What’s the advantage of being an S-Corporation?


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JDPRINTING
Sep 25, 2016 08:22 PM 0 Answers
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An S Corporation allows you to avoid double taxation. A regular C corporation is taxed on earnings and when distributions are made to shareholders they must pay taxes on those dividends. In an S corporation you receive a K-1 Statement based upon your ownership in the corporation . All of the income and expenses flow through to the shareholders in an S Corporation. Every corporation is a C corporation. To qualify for an S corporation you must be a resident alien of the U.S.A, all shareholders must consen, you must have less than 75 shareholders and you must file the S election timely with the IRS

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