![]() You would use Form 2553 to apply for S corp status and submit it to the IRS. It’s only after satisfying state registration requirements that you will then decide if you want to classify your business as an S corp. ![]() First, the entity created under a state’s law is a legal entity, while an S corp tax strictly falls under IRS tax codes. Such documentation establishes the operating parameters of a newly-created business.įar too many professionals, including attorneys and CPAs, fail to understand when they note that an entity should be an S corp. It helps you register your company with state authorities if you are interested in one of the following entities:Īfter you get an S corp entity, you need to register it with state authorities, and you would need to file an articles of incorporation document and establish bylaws, which would be similar to an operating agreement filed with LLCs. ![]() What Is an S Corporation Operating Agreement?Īn S corporation operating agreement is a crucial component when it comes to creating your business.
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