S corporation is a corporation that elects to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. Shareholders of S corporations then 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.
Here’s an overview of a S corporation:
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We charge only $75 per entity in addition to any government fees needed to incorporate a S-Corp
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We help you take care of all the paperwork and can generally have the entity created in 2-3 business days
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To create a S Corporation, Articles of Incorporation (also referred to as a Certificate of Incorporation) must be filed with the Secretary of State or appropriate state agency. Clientax Inc. can assist you with everything needed to start your S Corporation. This will allow you to focus on developing and growing your new company.
Absolutely. Single owner corporations are common. You are able to organize your business as
as a corporation, with you as the sole shareholder as well as the president and director. After you form your corporation, you can choose to have it taxed as an S corporation by filing an election with the IRS. This simply involves filing IRS Form 2253 with the IRS. Clientax Inc. will assist you with everything needed to start your S Corporation. This will allow you to focus on developing and growing your new company.
No. A sole proprietor cannot file as a S corporation unless they take the proper steps to create the corporate entity.
