Operating Agreement Llc Pa With S Corp Election
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How to fill out Pennsylvania Limited Liability Company LLC Operating Agreement?
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FAQ
Filing as an S Corp in Pennsylvania Step 1: Choose a Business Name. ... Step 2: Appoint Directors and a Registered Agent. ... Step 3: File Articles of Organization. ... Step 4: Create an S Corp Operating Agreement. ... Step 5: Apply for an Employer Identification Number. ... Step 6: File Form 2553 for S Corporation Election.
An S-Corporation is an elective tax classification that offers liability safeguards and transfers income through to the owners. On the other hand, an LLC is a structured business entity that functions to protect its owners from legal actions.
To make an LLC to S corp. election with the IRS, you need to file form 2553 Election by a Small Business Corporation. The form must be signed by shareholders and an officer of the company.
In order to operate, LLCs require real humans (and other entities) to carry out company operations. Though it's not required by Pennsylvania law, any good lawyer will recommend having a written operating agreement for your LLC.
You must file articles of incorporation for a corporation, or articles of organization for a limited liability company, along with a filing fee, with the New York Department of State and a Form 2553 with the IRS to elect S corp status. New York corporations that file Form 2553 are recognized by the state as S corps.