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Eligible subchapter S shareholders, what are the requirement

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for this type of information....
eligible subchapter S shareholders, what are the requirement for this type of information.
Submitted: 1 year ago.Category: Tax
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7/18/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,847
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi,

...

Are you asking about the requirememnts themselves, or what sort of documentation is needed ... essentially completing and attesting to tthe truthfulness on form 2553 does it (until you were audited for some reason.

...

here are the requirements themselves:

...

To qualify for S corporation status, the corporation must meet the following requirements:

  • Be a domestic corporation
  • Have only allowable shareholders
  • Have no more than 100 shareholders
  • Have only one class of stock
  • Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).
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