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 Miami-Dade
State:
Multi-State
County:
Miami-Dade
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
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FAQ
While both the Florida LLC and Florida S-Corporation protect the owners' individual assets from business liabilities, only the LLC shields business ownership from creditors of the shareholders. An S-Corp offers similar liability protection but requires specific ownership and tax structure considerations.
Unlike sole proprietorships, a corporation can be owned by multiple people.
LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners).
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.
Shareholder Limits - S corps cannot have more than 100 shareholders, while C corps has no limit on shareholders. Also, S corps can only have one class of stock, while C corps can have multiple classes.
Ownership restrictions: S corps cannot have more than 100 shareholders, and the shareholders must be US citizens or residents. C corps, other S corps, LLCs, partnerships, and many trusts cannot own S corps. Tax treatment: S corps automatically pass corporate income, losses, deductions, and credits to shareholders.