S Corporation With Two Shareholders In Riverside
State:
Multi-State
County:
Riverside
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
The document is a Resolution for an S Corporation with two shareholders in Riverside, enabling the corporation to elect S Corporation status under the Internal Revenue Code and the state tax code. This resolution empowers the corporation's officers to perform all necessary actions, including executing documents to confirm the election for S Corporation treatment. Specifically, it authorizes the filing of essential election documents with both the Internal Revenue Service and the state tax authority. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in the formation or management of S Corporations. It streamlines the process of making the S Corporation election and ensures compliance with tax regulations. Users are encouraged to complete the form accurately, noting the importance of all necessary signatures for validation. The clear format and procedural instructions enhance usability for individuals without substantial legal experience.
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FAQ
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.
Unlike sole proprietorships, a corporation can be owned by multiple people.
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.
