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(128th General Assembly) (Substitute Senate Bill Number 155)AN ACT To amend sections 117.13, 1515.14, 3306.052, 3734.901, 4141.301, 4582.06, 4582.48, and 5747.08 of the Revised Code and to amend Sections
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Sub S B No refers to the Subchapter S Corporation Election form, which allows a corporation to be taxed under Subchapter S of the Internal Revenue Code.
Corporations that wish to be taxed as S Corporations, instead of C Corporations, must file the Sub S B No form.
To fill out the Sub S B No, businesses need to complete the form with their basic information, such as the corporation name, address, tax identification number, and the names of shareholders, and submit it to the IRS.
The purpose of the Sub S B No is to elect S Corporation status for the company, allowing profit and loss to be passed through to shareholders for tax purposes.
The information required on the Sub S B No includes the corporation's name, address, EIN, shareholders' names, and the consent of all shareholders.
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