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STATE OF FLORIDA FLORIDA ELECTIONS COMMISSION In Re: Concerned Citizens of East Kendall Political Action Con:lmitteeCase No . : FEC 13131\' TO:Hamilton McHenry, Chair 9485 Sunset Drive, Suite A280
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Elect S refers to the election by a corporation to be treated as an S corporation for tax purposes, allowing income, losses, and other tax items to pass through to shareholders.
Corporations that wish to be taxed as S corporations must file Form 2553 to elect S status.
To fill out elect S, complete IRS Form 2553, providing necessary details such as the corporation's name, address, and the tax year being elected.
The purpose of elect S is to allow qualifying corporations to avoid double taxation on corporate income by passing income directly to shareholders.
Form 2553 requires information such as the corporation's name, address, employer identification number (EIN), election date, and shareholder information.
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