Are there annual tax filings if I incorporate ?

Yes. Corporations file an annual tax return on IRS Form 1120 or 1120S and usually a simple annual state report that updates information such as the address of the corporation and the names of its current officers and directors. Annual tax returns are also filed by general partnerships on IRS Form 1065, limited liability companies are also filed on IRS Form 1065. Single member LLC's are filed on IRS Schedule C, as well as sole proprietorships on IRS Schedule C.