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DATE (MM/DD/YYY)WORKERS COMPENSATION APPLICATION AGENCY NAME AND ADDRESSCOMPANY: UNDERWRITER: APPLICANT NAME: OFFICE PHONE:MOBILE PHONE:MAILING ADDRESS (including ZIP + 4 or Canadian Postal Code)YRS

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What is subchapter "S" corp?

Subchapter "S" corp is a type of corporation that has elected to pass income, losses, deductions, and credits through to their shareholders for federal tax purposes.

Who is required to file subchapter "S" corp?

Small businesses with 100 shareholders or less, only one class of stock, and meet other IRS qualifications are eligible to file as a subchapter "S" corp.

How to fill out subchapter "S" corp?

To fill out subchapter "S" corp, a business must complete Form 2553 with the IRS to elect S corporation status, and then file the necessary tax forms each year.

What is the purpose of subchapter "S" corp?

The purpose of subchapter "S" corp is to avoid double taxation on corporate income by passing income through to shareholders, who then report it on their personal tax returns.

What information must be reported on subchapter "S" corp?

Information such as income, deductions, credits, distributions to shareholders, and other financial details must be reported on subchapter "S" corp tax returns.

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