Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corporation With Two Shareholders In Cook
State:
Multi-State
County:
Cook
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Limited number of shareholders: An S corp cannot have more than 100 shareholders, meaning it can't go public and limiting its ability to raise capital from new investors.
To qualify for S corporation status, the corporation must meet the following requirements: Be a domestic corporation. Have only allowable shareholders. Have no more than 100 shareholders. Have only one class of stock.
Unlike sole proprietorships, a corporation can be owned by multiple people.
Unlike sole proprietorships, a corporation can be owned by multiple people.
S Corporation Shares The owners of a business determine how many shares a company must have to form an S corporation. This can range from 10,000 shares to 1 million shares of S corporation stock. The amount decided on by the owner must be detailed in the Articles of Incorporation when the business is formed.