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 Philadelphia
State:
Multi-State
County:
Philadelphia
Control #:
US-0046-CR
Format:
Word;
Rich Text
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FAQ
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.
Unlike sole proprietorships, a corporation can be owned by multiple people.
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.
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.
LLCs can have an unlimited number of members; S corps can have no more than 100 shareholders (owners).
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.