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If you are an S corporation use the information in the charts below to help you determine some of the forms that you may be required to file.
| If you are an S corporation then you may be liable for... |
Use Form... |
| Income Tax |
1120S (S corporation) |
| Estimated tax |
1120-W (corporation only) and 8109 |
|
Employment taxes:
- Social security and Medicare taxes and income tax withholding
- Federal unemployment (FUTA) tax
- Depositing employment taxes
|
941 ( 943 for farm employees)
940 or 940-EZ
8109 |
| Excise Taxes |
Refer to the Excise Tax web page |
BusinessWay Announces Sale of PC Division
Investor Relations
For Immediate release Sector: Computers, Internet, Retail, Software MONTREAL, Quebec May 19, 2003 - BusinessWay International Corporation (OTCBB:BITL) today announced the disposition of its entire Personal Computer division. The Board of Directors of BusinessWay and the majority shareholders have approved the transaction dated May 2, 2003 for the disposition of all issued and outstanding shares of its Canadian wholly-owned subsidiary 3739007 Canada Ltd. and its subsidiaries. Fabrice Zambito, Chairman of BusinessWay said , " The PC market has for many years been very soft and competitive and therefore has resulted in continued losses for the Corporation. Based on the current market situation, the future outlook of this PC industry would continue to be a financial burden on the Corporation. This decision will enable us to move forward with our internet software division including “Dr. Medic.com” . As well the Corporation will continue to develop the energy division and move forward aggressively. “ Management believes the energy sector is potentially a positive direction and focus for the Corporation. This transaction allows the corporation to significantly accelerate the implementation of our energy sector projects and plans. Management believes that this will open many opportunities for the company to negotiate joint ventures or acquisitions. For additional information: www.businessway.com/investors Contact: BusinessWay International Corporation Departement d’Investisseurs 1480 rue Bégin Saint-Laurent, Québec, Canada H4R 1X1 Telephone: (514) 770-4222 Email : e-mail protected from spam bots NB. Except for factual information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to uncertainties, including, but not limited to, government regulation, taxation, spending, competition general economic conditions and other risk factors.
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