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 Phoenix
State:
Multi-State
City:
Phoenix
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
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FAQ
You do not have to convert your LLC into a corporation. Instead, the LLC simply makes an election with the IRS to have the LLC taxed as an S corporation by having all members of the LLC sign an IRS Form 2553 and then file the signed Form 2553 with the IRS.
You do not have to convert your LLC into a corporation. Instead, the LLC simply makes an election with the IRS to have the LLC taxed as an S corporation by having all members of the LLC sign an IRS Form 2553 and then file the signed Form 2553 with the IRS.
FL, SD and WY are typically the best for no personal/business taxes. Nexus rules still apply to other states.
For Arizona income tax purposes, Arizona recognizes a corporation's federal subchapter S election and, to the extent that S corporation income is included in federal adjusted gross income, it will be included in Arizona gross income and subject to Arizona tax.
Corporations require annual meetings, directors meetings, recorded meeting minutes, and a notable amount of paperwork, while LLCs have little to no maintenance of this type. LLCs not only require less resolutions, but can make executive decisions without the need to hold an official meeting.
An Arizona extension for a partnership or S Corporation cannot be granted for more than six months beyond the original due date of the return. Arizona will accept a valid federal extension for the same period of time covered by the federal extension.
How do I form an S corp in Arizona? First, you'll need to form an LLC or C corporation, if you haven't already done so. To elect S corp status, you need to file Form 2553, Election by a Small Business Corporation, with the IRS.