Filing Taxes for S-Corps

Share to:

Author: NCH Editorial Team

Apr 24, 2014

Start Your Business with a Nevada LLC

The ONLY 5-Star Rated
Business Formation Company

Excellent

S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income. To qualify for S corporation status, the corporation must meet the following requirements: be a domestic corporation, have only allowable shareholders, have no more than 100 shareholders, have one class of stock and not be an ineligible corporation. To become an S corporation, the corporation must submit Form 2553 to the IRS. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729

Share to:

Experts by your side,
every step of the way

Cort Christie

Filing Taxes for S-Corps

Start Your Business with a Nevada LLC

Tags

Book Your FREE 1:1 Business Checkup

Speak With a Business Expert

Looking for something?

Maximize Profits and Minimize Risks with a Nevada LLC

Business Formation Services

Experts by your side,every step of the way

Cort Christie

Filing Taxes for S-Corps

Start Your Business with a Nevada LLC

Tags

Book Your FREE 1:1 Business Checkup

Speak With a Business Expert

Looking for something?

Maximize Profits and Minimize Risks with a Nevada LLC

Related Posts by NCH

Experts by your side,
every step of the way