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  • Year 2008 Part I Qualified Subchapter S Subsidiary (qsub) Information Worksheet

Get Year 2008 Part I Qualified Subchapter S Subsidiary (qsub) Information Worksheet

Ifornia corporation number (c) Federal employer identification number General Information Specific Instructions For taxable years beginning on or after January 1, 1997, California law has conformed to the federal treatment of Qualified Subchapter S Subsidiaries (QSub), with certain exceptions. The QSub is subject to an annual tax of $800 which is paid by the S corporation s parent. See Form 100S, General Information DD, Qualified Subchapter S Subsidiary (QSub), for more information. An.

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A Qualified Subchapter S Subsidiary, also known as a QSUB or QSSS, is simply an S corporation that's owned by another S corporation. A QSUB is treated as a subsidiary of the parent S corporation. And the really convenient thing is that only the parent S corporation owes a tax return to the federal and state government.

Qualified Subchapter S Subsidiary Defined. A Qualified Subchapter S Subsidiary (QSub) is an S Corporation, or a corporation that is eligible to be an S Corporation, that is 100% owned by another S Corporation.

What is a Qualified Subchapter S Subsidiary (QSSS)? An S corporation is permitted to have a wholly-owned S-Corporation subsidiary. To be treated as a QSSS, the parent corporation files IRS Form 8869 (Qualified Subchapter S Subsidiary Election) pursuant to IRC Sec. 1361(b) (3).

Qualified Subchapter S Subsidiaries These subsidiaries are commonly called QSubs. The election by the parent S corporation to treat its subsidiary for federal purposes as a QSub is most cases binding for California. A QSub is not treated as a separate entity, but as division of the parent S corporation.

The QSub election results in a deemed liquidation of the subsidiary into the parent. Following the deemed liquidation, the QSub is not treated as a separate corporation and all of the subsidiary's assets, liabilities, and items of income, deduction, and credit are treated as those of the parent.

California conforms to the federal treatment of Qualified Subchapter S Subsidiaries (QSubs), with certain exceptions. A QSub is subject to an annual tax of $800 which is paid by the parent S corporation.

This schedule notifies the FTB that the QSub's items of income, deduction, and credit will be included in the parent's return and the QSub will not file a separate California franchise or income tax return.

Employer Identification Number (EIN) A QSub is not required to have or use an EIN for Federal tax purposes. If the QSub does not have an EIN, enter “N/A” on line 8.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232