Corporation Status In Texas In Hillsborough

• Category: Corporations - Minutes and Resolutions - Actions
• State: Multi-State
• County: Hillsborough
• Control #: US-0046-CR
• Format: Word; Rich Text

Description

The document titled "Resolution" serves as a formal instrument enabling a corporation in Hillsborough, Texas, to elect S Corporation status under both the Internal Revenue Code and the Texas tax code. This resolution is crucial for corporations seeking favorable tax treatment that allows income to pass through to shareholders, avoiding double taxation. The document outlines the authority granted to corporate officers to execute necessary actions, such as filing required documents with the IRS and state tax authorities. It ratifies any prior actions taken by the officers within the framework of this authority, ensuring continuity in corporate governance. The resolution must be officially adopted by the Board of Directors, with designated signatures to validate its legitimacy. Target audiences, including attorneys, partners, and legal assistants, will find this form useful as it provides clear guidelines for electing S Corporation treatment, thereby optimizing tax liabilities. Additionally, paralegals and associates will benefit from understanding the procedural requirements outlined in the resolution for maintaining corporate compliance and governance.