Category Archives: S Corporation

A corporation consists of all three: officers, directors and shareholders. Shareholders are the owners of the corporation and elect the directors. Directors guide and are involved in the fundamental decisions of the corporation on behalf of the shareholders. Officers are … Continue reading →

For purposes of federal taxation, an S Corporation is taxed differently than a C Corporation. Typically, the S Corporation files its annual return using the Form 1120S, as opposed to the 1120 for a C Corporation. The 1120S is an … Continue reading →

In order to elect S-Corporation status for an already existing C-Corporation for the current tax year, the corporation must file the IRS Form 2553 by March 15. If the corporation is filed on or after January 1 of the current … Continue reading →

Typically entrepreneurs will select the S-Corporation as the entity of choice for the following reasons: * The S-Corporation combines the advantages of the sole proprietorship, the partnership, the LLC and the corporation into one entity. * Unlike sole proprietors and … Continue reading →

There are no citizenship or residence requirements for ownership of a C Corporation or an LLC. The S Corporation however does not allow nonresident aliens to be shareholders (owner), but any US citizen or resident alien may be a shareholder … Continue reading →

Almost every state requires a corporation or an LLC to have a Registered Agent (sometimes called a resident agent, statutory agent, or agent for service of process). The Registered Agent address is the address that will be used by the … Continue reading →

No, it does not. An attorney is not a legal requirement to form a Limited Liability Company. While we always recommend consulting the appropriate legal and accounting specialists, we can take care of the filings for you and save you … Continue reading →

Unless you plan on having a large, multi-state operation, it is generally best to form your company in the state in which it is located. Generally speaking, most states will expect you to be registered with them if there is … Continue reading →

A Publication Requirement is a compliance mandate that requires the creation and ownership of an LLC to publish an announcement in local newspapers upon being filed. Upon completion of this requirement an affidavit is typically filed with the state to … Continue reading →

A Corporate Seal is a customized embossing stamp that contains the name, date and state of formation of your company. In some jurisdictions a corporate seal can be required to open a company bank account. It is typically used on … Continue reading →