S Corporation Without Payroll In Wake
State:
Multi-State
County:
Wake
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
The Resolution for an S corporation without payroll in Wake is a formal document that authorizes a corporation to elect S Corporation status under both federal and state tax codes. It outlines the roles of corporate officers who are given the authority to execute necessary documents and perform all required actions to effectuate this election. The resolution emphasizes the importance of confirming any prior actions taken by officers in relation to this matter. It serves as a crucial legal instrument for ensuring proper compliance with the Internal Revenue Service and state tax authorities. Key features of the form include the delegation of responsibilities to corporate officers, the need for ratification of prior actions, and the requirement for a certification by the Secretary of the corporation. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may be involved in corporate governance and tax compliance. It provides a structured approach for achieving the S corporation status, which benefits the designated audience by simplifying tax responsibilities and enhancing financial management.
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FAQ
In the U.S., the largest payroll taxes are a 12.4 percent tax to fund Social Security and a 2.9 percent tax to fund Medicare, for a combined rate of 15.3 percent. Half of payroll taxes (7.65 percent) are remitted directly by employers, with the other half withheld from employees' paychecks.
