 n S-corporation is a type of corporation that is recognized by the U.S. Internal Revenue Service and is treated differently than other corporations in terms of federal taxation. For standard corporations, the corporation pays a federal and, perhaps, state corporate tax on the business profits. If the after-tax profit is then distributed to the shareholders as dividends, the shareholders then pay an additional personal income tax on the dividends. The amount distributed to the shareholders as dividends is not a deduction for the corporation. S-corporations, on the other hand, are taxed similarly to partnerships; the corporation does not pay a corporate tax. Taxation of the profits of the S-corporation falls to the individuals who own shares in the corporation. This also allows for each individual shareholder to personally deduct their share of any corporate losses. Included in this kit is the following: · Notes and Requirements for S-corporation Status · S-corporation Checklist · Sample Notice of Special Shareholders Meeting Regarding S-corporation Status · Sample Affidavit of Mailing of Notice of Special Shareholders Meeting Regarding S-corporation Status · Waiver of Notice of Special Shareholders Meeting Regarding S-corporation Status · Minutes of Special Shareholders Meeting Regarding S-corporation Status · Resolution of Shareholders Regarding S-corporation Status This Kit can be used in all states. $19.95
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