State filings for S corp that moved states mid year

Forum|Forum|2 years ago
January 24, 2024
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I recently moved from the state of Indiana to the state of Florida, and also moved my S corp from Indiana to Florida, which was effective September 1, 2023.

I would assume I need to file a return for the S corp in both states, and need to know what, if anything special needed to be done to the state returns, since the S corp was active in Indiana for 8 of the 12 months, and then active in Florida for the remaining 4 of the 12 months.

Thank you!

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RobertB4444

The good news is that Florida doesn't have a state tax so you don't have to file a return for them. But you will file a part year return for Indiana that includes all of the income and expenses for the first two quarters. You'll inform Indiana through that return that you have moved.

@kccg2012

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kccg2012Author

@RobertB4444I believe that is true for the personal return, but is that also true for the business return? Do I have to do anything different with the business returns, or just file those as normal, and since I'm taxed on the profits on my my personal return how it's taxed and how much in each state is taken care of on the personal?

Thanks!

RobertB4444

Florida - like many states without an income tax - has a business franchise tax. This return is very simple and is designed to charge a tax on high earning corporations. However, all corporations have to file it. You can file it using TurboTax or directly through the Florida Department of Revenue website.

@kccg2012

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