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NY Form 1120 (Schedule G): What You Should Know
What is your relationship? How do you know this? Do you own other members of the entity? How is this reflected on your Schedule G? What is the relationship of a manager, or principal shareholder, to stockholders? I have a friend that has a business that has no income and is a partnership. She had no other directors (she is a director but is not the sole director), and she didn't pay any corporate tax on behalf of the partnership. Did she make any Schedule G filings? Can I know if she did? Or are all directors of a partnership treated the same? YouTube · Jessica Oct 11, 2025 — Update to question 4. If a corporation had no other directors and there was no corporation stock, that person's shares would be the only company stock they owned on Schedule G. Current Corporate Forms — NYC.gov What is the relationship of a manager, or principal shareholder, to stockholders? The relationship seems the same when both person and entity are treated the same. What if the manager has no stock in the entity and the owner of the shares was acting solely as an owner of the shares? How could that be? If the manager can control the ownership of the shares, it may affect the value of the shares. How can your Schedule G report this? If the owner is an employee, what is the relationship of the employer to the employee? (Employees are not shareholders even if there is an employment relationship). Did the business partner file Form 1120? If so, why wasn't he or she reported on Schedule G (as they should have been)? YouTube · Jason D. Knot · Oct 11, 2025 · 11:38 AM Oct 11, 2025 — Update to question 3. As of 2010, Form 1120 should always be filed. In addition, if you are treated as the owner of a single entity, that person would be treated as a shareholder of the entity through their share of it. The owner of a private limited liability company would be treated as a shareholder through their shares. This is because all the entities are made up of one person (the owner) and one entity (the “smaller entity”). But if there are more than one people involved, they should be treated as separate owners. This is how people like to report their business entity.
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