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The S-Corporation also known as the subchapter or small business corporation is a tax code that was created and enacted into law by congress in 1958. It was created to encourage small and family business creation while eliminating the double taxation that conventional corporations were subjected to.
Unlike a traditional C-Corporation the S-Corporation must adhere to the following limitations:
The S-Corporation is essentially a tax designation that is recognized by the IRS, similar to the LLC the income generated by an S-Corporation will flow through to the personal income tax returns of the shareholders meaning that the entity is not required to pay taxes on a corporate.
S Corporation tax election status is obtained by the filing of IRS Form 2553 within 75 days of the filing date of the company or by filing the IRS Form 2553 by March 15 of each year.
|Name Availability Search|
|Completing & Filing of your articles of Incorporation|
|One Year Registered Agent Service|
|Initial Statement of Information Filing (Includes Fee)||$50.00|
|Compliance Kit and Company Seal (Custom)||$99.99|
|Federal Employer Identification Number (EIN)||$80.00|
|Development of Corporate Bylaws||$99.99|
|S Election Designation (IRS) Filing||$99.99|
* Includes State Filing Fees