Скачать или смотреть Can your business make a TAX ELECTION TO BE AN S CORPORATION?

In this video, Tyee thoroughly explains the technical requirements businesses must meet to achieve S Corporation status.

Becoming an S Corporation is an election designed for “small business corporations.” However, that phrase doesn't refer to the size of the business in terms of revenues or assets. The rules are generally getting at the number and type of owners the business has.

The basic requirements to elect S are as follows:
Be a domestic corporation
Have only allowable shareholders
May be individuals, certain trusts, and estates and
May not be partnerships, corporations or non-resident alien shareholders
Have no more than 100 shareholders
Have only one class of stock
Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).