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S Corporations are for those who think big but want to keep things small. Pass-through taxation combined with the ability to structure compensation means you enjoy credibility and protections without being subject to the same tax rules as mega-corporations.
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Preparation of all legal documents.
We file your Articles of Incorporation with the state, monitor the process, and promptly deliver the final paperwork to you upon approval.
Name check ensures the availability of your desired business name with the state.
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Ankura Consulting Group, Texas
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Children International, Missouri
If you plan to limit ownership, S Corporations are ideal. The rules about governance and liability are well-established, and from a tax perspective, it’s a win-win: Profits and losses are “passed through” to owners, avoiding the “double taxation” of C Corporations at both the corporate and personal levels. To further reduce taxes, S Corporations can structure compensation in ways C Corporations and LLCs can’t.
First, you must file Articles of Incorporation with the state and designate a Registered Agent. Once your Articles of Incorporation are accepted, you’ll file an election (Form 2553) with the IRS to be taxed as an S Corporation. (All shareholders must all consent in writing to the S corporation election. Not every corporation can be an S Corporation. S Corporations can't have more than 100 shareholders and shareholders can't be non-resident aliens. S Corporations can have only one class of stock (disregarding voting rights). S Corporations cannot have C-Corporations, other S Corporations, LLCs, partnerships, or many trusts as shareholders.
An S Corporation (“S Corp”) is formed under state law as a regular corporation. This protects each owner’s personal assets from debt. It then makes an IRS election to pass income and losses through to the owner(s), who pay taxes on them when they file their individual returns.