If you were to run a break-even analysis, an S corp in California becomes financially beneficial when your profits reach about $75,000 annually. Below this amount, the extra costs of running an S corp outweigh the tax savings. Overall: Some states tax LLCs and S corps at different rate...
Personal assets of shareholders are protected by the structure of an S corp. No shareholder is personally responsible for the liabilities and debts of the business. Creditors have no claim on the personal assets of shareholders in order to settle business debt, whereas personal assets are vulnerable...
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CFPB v. Credit Acceptance Corp. U.S. District Court for the Southern District of New York: Pending Aug 21, 2024U.S. Chamber files coalition amicus brief in lawsuit brought by the CFPB and New York Attorney General against an indirect auto lender. The Chamber previously filed an amicus brief...
Tax concerns.Distributions from the S corp in the form of salary to an owner-employee will be subject to their own taxes, such as including Social Security and Medicare taxes. S corps also may be subject to minimum annual state taxes, regardless of their business income bracket. California, ...
WCG's Business Formation Services Portal has everything you need to help launch your new business from entity selection to S Corp formation (election).
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Kragen, Pam
Chamber urges Congress to modernize our outdated permitting process through the EPRA. Read more Dec 09, 2024 U.S. Chamber of Commerce Letter on House Hearing Titled "Safeguarding the Homeland from Unmanned Aerial Systems" Read more Previous ...