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Clear Form Worker s Compensation Supplemental Application Business Name Address Federal ID #: Years in Business: Ownership: Individual Partnership Corporation Subchapter S Corp LLC Other Officer/Partner

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What is subchapter s corp?

A subchapter S corporation is a type of corporation that passes its income, losses, deductions, and credits through to its shareholders for federal tax purposes.

Who is required to file subchapter s corp?

Eligible domestic corporations are required to file as a subchapter S corporation.

How to fill out subchapter s corp?

To elect to be treated as an S corporation, the corporation must file IRS Form 2553 with the IRS.

What is the purpose of subchapter s corp?

The purpose of a subchapter S corporation is to avoid double taxation on corporate income by passing income through to shareholders.

What information must be reported on subchapter s corp?

Income, losses, deductions, and credits must be reported on a subchapter S corporation.

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