Tax Tips for Sub S Corporate Structures
Tax Tips for Sub S Corporate Structures When There is a Distribution, the distributions are tax-free. Distributions include amounts previously taxed
How do I elect S corp tax status
To elect S corporation tax status, you need to file IRS Form 2553, Election by a Small Business Corporation. You can file an election for S corporation tax status at any time after setting up your SMLLC. However, there are limitations on when the election can take effect.