Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corporation With Llc Subsidiary In Orange
State:
Multi-State
County:
Orange
Control #:
US-0046-CR
Format:
Word;
Rich Text
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Description
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FAQ
Because of the one-class-of-stock restriction, an S corporation cannot allocate losses or income to specific shareholders. Allocation of income and loss is governed by stock ownership, unlike partnerships or LLCs taxed as partnerships where the allocation can be set in the partnership agreement or operating agreement.