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Agreement to Incorporate as an S Corporation and as Small Business Corporation with Qualification for Section 1244 Stock Agreement made this the (date) between (Name of Incorporated One), herein referred
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An S Corporation document, often referred to as Form 2553, is an IRS form that allows a corporation to elect to be taxed as an S corporation, which means the corporation's income, losses, deductions, and credits pass through to its shareholders for federal tax purposes.
Any corporation or entity eligible to elect S corporation status must file Form 2553, including domestic corporations and certain limited liability companies (LLCs) that meet specific criteria.
To fill out Form 2553, you need to provide information such as the corporation's name, address, date of incorporation, election effective date, and the shareholders' consent. It is important to ensure all information is accurate and complete to avoid issues with the election.
The purpose of the S corporation document is to allow eligible corporations to elect S corporation status, which enables them to enjoy pass-through taxation, avoiding double taxation on corporate income.
The S corp document requires reporting the corporation's name, address, employer identification number (EIN), the date of incorporation, the effective date of the election, and a signed consent from all shareholders.
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