Subchapter "S"
800.859.6696

The Internal Revenue Service allows the shareholders of a corporation to elect to be taxed by "passing through" any profits of the corporation to the individual shareholders of the corporation.  The purpose of this is to allow small business owners to avoid being taxed twice;( i.e. one income tax on the corporate profits and another income tax on distributions of profits to the shareholders). In order to qualify, an application must be filed and the following conditions must be met.

1. The corporation may have no more than 75 shareholders.
2. The shareholders must be individuals (some exceptions).
3. The corporation has only one class of stock.
4. No nonresident alien shareholders.
5. You must file the application before the 16th day of the 3rd month of the tax year.

CORP 95 DOES NOT GIVE LEGAL ADVICE

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Nevada Corporation
Wyoming Corporation