Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corporation With No Employees In Maricopa
State:
Multi-State
County:
Maricopa
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
S Corporations and the Pass-Through Entity Election The Arizona Pass Through Entity (PTE) income tax is assessed at a rate of 2.5% of the income attributable to the S Corporation's resident shareholders and the income derived from sources within Arizona attributable to the nonresident shareholders.
File for Reinstatement You can request reinstatement within six years of the dissolution date. The Arizona Corporations Commission is one that processes every submitted request. Therefore, you can send your request to them via mail or email.
You do not have to convert your LLC into a corporation. Instead, the LLC simply makes an election with the IRS to have the LLC taxed as an S corporation by having all members of the LLC sign an IRS Form 2553 and then file the signed Form 2553 with the IRS.
You can register by filing the Application for Authority to Transact Business in Arizona with the Arizona Corporation Commission, Corporations Division. This costs $175 to file.
Every corporation subject to the Arizona Income Tax Act of 1978 must file an Arizona corporate income tax return. A limited liability company that makes a valid federal election to be taxed as a corporation must file an Arizona corporate income tax return.
You do not have to convert your LLC into a corporation. Instead, the LLC simply makes an election with the IRS to have the LLC taxed as an S corporation by having all members of the LLC sign an IRS Form 2553 and then file the signed Form 2553 with the IRS. See the Instructions to IRS Form 2553.
For Arizona income tax purposes, Arizona recognizes a corporation's federal subchapter S election and, to the extent that S corporation income is included in federal adjusted gross income, it will be included in Arizona gross income and subject to Arizona tax.
How do I form an S corp in Arizona? First, you'll need to form an LLC or C corporation, if you haven't already done so. To elect S corp status, you need to file Form 2553, Election by a Small Business Corporation, with the IRS.
The IRS doesn't limit S corporation income. S corporations are incorporated companies that have made an election to be taxed as a pass-through entity rather than have double taxation.
