S Corporation With Two Shareholders In Queens

State:
Multi-State
County:
Queens
Control #:
US-0046-CR
Format:
Word; 
Rich Text
Instant download

Description

The document titled 'Resolution' is designed for corporations with two shareholders in Queens that wish to elect S corporation status. This resolution authorizes corporate officers to take necessary actions, including the execution of documents to elect S corporation treatment under both federal and state tax codes. Key features include the ability to authorize actions taken prior to the adoption of this resolution, ensuring that past decisions are ratified and confirmed. It establishes clear roles for officers, allowing them to manage the submission of required documents to the Internal Revenue Service and state taxing authorities. For legal professionals, such as attorneys, partners, and paralegals, this document serves as a vital tool in formalizing the election process for S corporation status, ensuring compliance with applicable tax regulations. Additionally, it aids legal assistants and owners in understanding the procedural requirements and provides a straightforward format for maintaining corporate records. Proper filling and signatures from the directors and secretary are crucial for validity and compliance.
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FAQ

How to Start an S Corp in New York Step 1: Choose a Business Name. Step 2: Obtain EIN. Step 3: Certificate of Incorporation. Step 4: Registered Agent. Step 5: Corporate Bylaws. Step 6: Directors and Meeting Requirements. Step 7: Stock Requirements. Step 8: Biennial Statement.

Every corporation, domestic or foreign, must have a Registered Agent with a registered office within the State of New York at all times.

Business Corporations & Not-For-Profit Corporations FILING UNDER THE BUSINESS CORPORATION LAWRev. 3/16 Incorporation (all corporations) $125 Amendment or Restated $60 Consolidation or Merger $60 Change §805-A(a) or §1309-A(b) $3010 more rows

Unlike sole proprietorships, a corporation can be owned by multiple people.

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.

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S Corporation With Two Shareholders In Queens