Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corp Status For Llc In Collin
State:
Multi-State
County:
Collin
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
There's no need to convert your LLC to a corporation at the state level. If you'd like to convert your LLC to an S corporation, then you must elect S corporation tax status. To convert to an S corporation, file an IRS Form 2553 at the federal level.
LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners). Non-U.S. citizens/residents can be members of LLCs; S corps may not have non-U.S. citizens/residents as shareholders. S corporations cannot be owned by corporations, LLCs, partnerships or many trusts.
Collin County Business License General Business License licensure is not required on the County level in Collin County.
A Texas plan of conversion is a written document authorizing a Texas LLC to take the steps necessary to move the LLC to a new state. An LLC's Texas plan of conversion specifies how an LLC conversion will be carried out and how it will affect the company and authorizes the procedure on behalf of the company.
