S Corporation
The S Corporation is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Tax Code. Being an S-Corporation is a tax matter only. S Corps are “tax pass through” business entities, meaning their profits and losses are reported by its owners on their personal tax returns.And remember, we are happy to answer your questions on the phone. To speak with one of our knowledgeable incorporation Business Specialists, call us at 1-888-494-9729 (our phone hours are: Monday through Friday, 8 AM to 5 PM MST) or send us a message.
Learn More About S-Corporations
| S-Corporation Advantages | S-Corporation Disadvantages | Other Incorporating Options | ||
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Additional Information
- No personal liability for debts of business
- No personal liability of shareholders
- Management consists of officers and directors (who can be you)
--- directors elected by the shareholders, and officers are elected by the directors - Total number of shareholders can be one in most states
- Corporation survives death of shareholders, officers and directors
- Profits taxed to individual shareholders
- Only 75 shareholders allowed
- Shareholders must be individuals, not other corporations, etc.
- Set up 401k’s, IRA’s
- Countless tax deductions for the benefit of officers, directors, shareholders, including
--- car allowances
--- medical insurance
--- travel and entertainment, business expense allowances - Taxed at individual rate (which is lower) than corporate rate