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 Maryland
State:
Multi-State
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
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.
LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners).
Unlike sole proprietorships, a corporation can be owned by multiple people.
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.
Maryland recognizes the federal S corporation election and does not require a state-level S corporation election.
Unlike sole proprietorships, a corporation can be owned by multiple people.