An S corp (or S corporation) is a business structure that is permitted under the tax code to pass its taxable income, credits, deductions, and losses directly to its shareholders. That gives the S corp certain advantages over the more common C corp. The S corp is available only to small...
a certificate of incorporation) with the Secretary of State or other agency responsible for corporate registration. The state doesn’t care whether you plan to operate as a C corp or S Corp; it simply recognizes a business as a corporation. ...
An S Corporation, otherwise known as an S subchapter, is a type of corporation that meets specific requirements. These requirements are set out by the Internal Revenue Code. Once a business meets these requirements, it can pass income directly to shareholders. An S Corp can do this without ha...
S corporation: S corporations must have a board of directors and corporate officers. An S Corp’s board of directors oversees management and is in charge of business decisions. Corporate officers (e.g., CEO, CFO, etc.) manage the day-to-day business operations. Shareholder/member structure ...
How to become a C corporation (C Corp) Actually, you don’t “become” or “form” a C corporation or an S corporation. You form a corporation—period. And you do that by filing a document, generally referred to as Articles of Incorporation (sometimes called a Certificate of Incorporation...
The S corp was introduced to relieve the burden of double-taxation. But, S corp tax status rules out the advantages of operating a corporation, like being investor-friendly, and leaves you with acomplex business structure that is challenging to maintain. ...
In this article, we will focus on the choice between LLC, S corp, and C corporation status. Forming either a limited liability company vs. s corporation is not a requirement, but each has benefits that may protect personal assets and offer additional tax savings and improved company profits....
S Corporation vs. C Corporation: A Comparison The BizFilings Guarantee BizFilings is confident in its ability to deliver S Corp formation services that exceed customer expectations. Our services are both accurate and timely, and we pride ourselves on providing the highest level of service in the ...
An S corporation (S corp) is a type of business tax filing status that allows corporations to pass corporate income, losses, deductions, and credits through to their shareholders, but only if the business meets specific requirements. So, an LLC that meets the requirements for S corporation taxe...
S corp vs. C corp FAQ Can an S corp have foreign shareholders? No, an S corporation cannot have foreign shareholders. The IRS requires all S corp shareholders to be US citizens or residents. What’s the difference between an S corp and a C corp? An S corp is a corporation that has...