Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
Corporate Status Vs S Corporation Status In Philadelphia
State:
Multi-State
County:
Philadelphia
Control #:
US-0046-CR
Format:
Word;
Rich Text
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FAQ
Names of corporations must end with either the identifier "Incorporated" or "Corp." If one of these identifiers is present, then the company is most likely a corporation.
Names of corporations must end with either the identifier "Incorporated" or "Corp." If one of these identifiers is present, then the company is most likely a corporation.
We recommend converting to a C-Corp if a company wants to issue qualified small business stock and plans on selling its business in no less than five years.
A Pennsylvania S Corporation election may be made by the shareholders of any small corporation that is subject to the Pennsylvania corporate net income tax or that owns directly, or through a wholly owned subsidiary, 100% of the stock of a qualified Subchapter S subsidiary that is subject to the Pennsylvania corporate ...
U.S. citizen can only participate in an S Corp if they are an emigre, meaning they have passed the IRS's substantial presence test or hold a green card.
S corps must be domestically based and the owners of the company must be U.S. citizens of permanent residents. In contrast, C corps can be based out of anywhere and the owners don't necessarily have to be U.S. citizens or residents.
If you're a physician assistant (PA), you SHOULD form a Professional Corporation taxed as an S-Corporation.