S Corporation With Two Shareholders In Virginia

• Category: Corporations - Minutes and Resolutions - Actions
• State: Multi-State
• Control #: US-0046-CR
• Format: Word; Rich Text

Description

The Resolution form for an S corporation with two shareholders in Virginia is designed to formalize the decision of the corporation to elect S corporation status under the Internal Revenue Code. This document allows the officers of the corporation to take necessary actions, including filing election documents with the IRS and the Virginia taxing authority, ensuring compliance with both federal and state tax regulations. Key features of this form include the authorization for corporate officers to execute required documents, a ratification clause for previous actions taken, and a certificate of the Secretary to validate the resolution. Filling out the form requires the names of the officers and the dates of adoption, ensuring all relevant information is accurately captured. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in managing the corporate structure of a small business. By utilizing this document, users can facilitate the S corporation election process, thus potentially benefiting from tax advantages associated with S corporation designation. Properly completing this form helps ensure the corporation's compliance and assists stakeholders in streamlining corporate governance.