Form 1120-S

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Form 1120-S

A tax return for the income of an S-corporation. A corporation files Form 1120-S to report its revenue, expenses, and profits or losses. It also uses Form 1120-S to claim deductions and credits, which is especially important in the United States because corporate tax rates historically have been high compared to other countries.
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The selection criteria were that the companies "reported officer compensation less than $10,000 and ordinary income of greater than $50,000." Companies reported an average of $5,300 in wages on their Forms 1120-S, while reporting $349,323 as the average distribution on their schedules M-2.