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S-Corporation

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S-Corporation Overview:

Incorporation is an important step in the life of a business. A primary advantage of forming a corporation is the limited liability the corporation entity affords its shareholders (owners). Typically, shareholders are not liable for the debts and obligations of the corporation.

S-corporations are corporations that elect to pass the corporation's income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S-corporations 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.

RushFiling will be the incorporator executing the formation documents which allows your filing to be submitted to the proper governing agency with no action required on your part. Answer the simple questions and we'll check the availability of your business name and prepare and file your articles of incorporation. Once the articles are approved, we'll email your custom articles, bylaws, EIN, and S Corp election documents

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Incorporation - How it works:

You won't have to read any complicated instructions, and there's nothing to print out or put together on your end. RushFiling has eliminated the stress of the corporation formation process....

  Information:
Start by filling out a precise online questionnaire developed by our legal advisors. Our online questionnaire is free, safe & secure! You can save your work & return to it at any time. You may also call us toll free with any questions at 1-888-634-8316.
  Preparation:
As soon as we receive your completed questionnaire, RushFiling perform a thorough review of your information - including a check for accuracy and name availability. We then draft your articles and file all required documents with the appropriate state or federal agency. RushFiling will execute the formation articles as the incorporator which allows for immediate submission.
  Completion:
Once your formation documents are approved, we'll send you a completed package by email and directly to your doorstep.. all you have to do is sit back and let the specialists at RushFiling take care of business.

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Incorporation Prices:

Let the experts RushFiling take care of business! With us, you'll save time and costly attorney's fees when forming your Corporation. One online visit or phone call to our office is all it takes to get started on your business entity formation. Family owned and operated, RushFiling is dedicated to providing quality service for our valued clients. RushFiling - we do it right.

  • Easy! Make only one online visit or call to our online document processing center - we do the rest.
  • Affordable! Much less than attorney's fees and competitive in the online market.
  • Fast! We start processing your order within 24 hours or less!
  • Personal! We take pride in the services we offer.

Form the business entity that's right for you!


 

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S-Corporation FAQs

Corporation bylaws are written to manage the corporation's business and to guide the corporation's affairs. Corporate bylaws define a corporation's purpose, how it will operate, and the duties and responsibilities of the people who own and manage it. They also let you specify shareholder ownership rights, select officers and directors, plan annual meetings, and establish how to remove officers or directors. The corporation's bylaws should not be in conflict with the articles of incorporation. A corporation maintains its own bylaws and is not required to file them with the State in which it incorporates.
 

To make an S election, your corporation must be domestic. It may have only allowable shareholders including individuals, certain trust, and estates and may not include partnerships, corporations or non-resident alien shareholders. The corporation may have no more than 100 shareholders and only have one class of stock. They corporation many not be an ineligible corporation i.e. certain financial institutions, insurance companies, and domestic international sales corporations.
 

In a nutshell, an S Corporation is a corporation, partnership or limited liability company that's made an S election with the IRS. And an S Corporation doesn't have to actually be a corporation. It needs only to be what the Internal Revenue Service considers an eligible entity. You should therefore think about an S corporation not as a "legal entity" but rather as a tax accounting classification. Just to go into this definition a bit further, the S election tells the IRS that the business wants to be treated under the rules of Subchapter S of the Internal Revenue Code. While there are many complicated provisions in Subchapter S, the basic feature of an S corporation is easy to understand: S corporation taxable income or S corporation tax deductible loss is allocated to the S corporation owners based on their ownership percentages. An S corporation that makes, say, $100,000 in profits pays no income taxes on that profit. Instead, the shareholders of the S corporation include the profit on their returns. If two shareholders equally own an S corporation that makes $100,000, for example, each shareholder adds $50,000 of income to his or her return and then pays the tax on that $50,000 profit from the S Corporation.
 

An S corporation does not pay federal taxes at the corporate level. Any business income or loss is "passed through" to shareholders who report it on their personal income tax returns. This means that business losses can offset other income on the shareholders tax returns. This can be extremely helpful in the startup phase of a new business. LLC's are by default pass through entities unless otherwise requested by the IRS.
 

S corporation shareholders can be employees of the business and draw salaries as employees. They can also receive dividends from the corporation, as well as other distributions that are tax-free to the extent of their investment in the corporation. A reasonable characterization of distributions as salary or dividends can help the shareholder reduce self-employment tax liability, while still generating business-expense and wages-paid deductions for the corporation.
 

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Our 3 Step Process
  • 1 Answer a few simple questions.
  • 2 We'll then prepare & file your Articles of Incorporation.
  • 3 Upon completion of your filing, the original Articles of Incorporation & Incorporation Package will be mailed to you.

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