S CORP ELECTION (FORM 2553)

Order total: $100

Form 2553 by IRS is used by qualifying small business corporations and limited liability companies to make the election prescribed by Sec. 1362. That is how the entity can be taxed as a partnership with the profits of the entity passing through to the owners so there is only one level of taxes avoiding the double-taxation problem.

Form 2553 is crucial in order for you to convert your C Corporation or your LLC into an S Corp. S Corporation has various tax benefits such as Self Employment Tax Savings.

In order for the election to be considered timely, Form 2553 needs to be filed with the IRS within 75 days of formation of the entity. In other words: no more than two months and 15 days after the beginning of the tax year the election is to take effect (typically March 15)

BizStarter will take care of this step to save you money. Order this service today.

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