Cash your time, reduce your tax liabilities, and see your company grow as a distinct entity. Our complete process is seamless, transparent and quick. While you concentrate on the other productive tasks, we would do all the documentation formalities like filing the documents for you.
Start your S- Corporation process online today
If you are ready to start now, we the team Fastincnow could make it easy for you. You only have to follow our three step process and we will take care of the rest.
Complete our Online Form
Fill our easy to use form. All your information would be kept private and secure, which would be used only to meet your business purpose.
We file the Documentation
Our team of experts would file all the documents and do your paperwork, while you concentrate on the other mundane tasks.
Receive your approved documents
Your form would be sent to your the Internal Revenue Service. This is a notification to the IRS that you would like to elect S corp status. The IRS would then send a letter back to the corporation as a confirmation of the process for its election for the tax treatment.
What is S-Corp?
S corporation files Articles of Incorporation with the Secretary of State or similar government body. It is administered like a corporation, with directors, officers, and shareholders who operates in the same manner as their C corporation counterparts.The shareholders are protected from the same liability as shareholders of the C Corporation, and their personal assets cannot be seized to fulfill the business liabilities.
What are the requirements for filing for S-Corporation?
- S Corp should not have more than 100 shareholders.
- The corporation should be a domestic business entity.
- All the shareholders must have U.S. citizenship.
Invalid entries for S Corp are financial companies, insurance houses and domestic international sales corporations.
Benefits of Having your company S-Incorporated
Legally S corporation has an advantage over its C counterpart in terms of tax relaxation. They are relieved from the double taxation process. Besides, S corporation shareholders can be treated as the business’ employees and are entitled to receive salaries as employees. In addition to this, owners of an S Corp are liable to report profits and losses only on their income.
Company owners and shareholders are not held accountable for the legal obligations of the business. This means that the personal assets of the owners remain secured in case the business encounters any problem or external liabilities.
If it is a corporation, it would have three levels of management: corporate officers, the chief executive officer who would operate on the day to day activities. Board of directors is responsible for making decisions as per the corporate strategy. The board is selected by the shareholders. The particulars regarding the respective roles of the management are prescribed in the corporation’s bylaws.
The enhanced brand value of an S Corp built rapport and reliability. This helps in increase in engagement, attracting potential customers and creditors to the business.
Frequently Asked Questions
What criteria should you meet to get qualified for S-corporation status?
Given below are some criteria that must be fulfilled for filing for S Corp:
- It should be a domestic business entity.
- Permitted number of shareholders should be 100 which includes trustees, individuals, estates, corporations, non-residents and alien shareholders.
- They should operate only in one stock.
- All shareholders should be US citizen.
What is the major benefit S Corp has to offer your business?
The major benefit is the avoidance of double taxation of a profit seeking corporation. In this structure, the profits accrued are shared by the shareholders who have to report them in their individual tax returns.
Who all can apply for S Corporations?
Apart from general profit corporations and professional companies, an LLC can also file for S Corporation status.
Is online the best option for S Corporations?
Yes, online is fast, accurate and legit option to fulfil all your formalities for S-Corporation. Contact us and we would move through the complete process, seamlessly, easy and fast.
How much is your fees for S-Corporation?
We offer very reasonable fees for our esteemed clients. To know more about our payment structure, please contact us via phone or through our online support system. We offer high quality and professionalized service and solutions ensuring you get complete mental peace and relaxation.