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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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S corp be owned by another S Corp, Can a S corporation be

Customer Question

S corp be owned by another S Corp
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Can a S corporation be owned by another S corporation and the second S corp members are the same
JA: Is there anything else the Accountant should be aware of?
Customer: no
Submitted: 6 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 6 months ago.

It would be a QSSS - a qualified subchapter s subsidiary - but the original subchapter s must own 100% of its (the QSSS) shares.

Customer: replied 6 months ago.
the base S corporation is owned by my wife and me. it then formed a second LLC s Corp for safety. the second is owned by the first s Corp or LLC .
Expert:  ABC Accounting Group replied 6 months ago.

Hi. Do you have a contract and documentation made up by a lawyer - just confirming, since this is a necessity. Thanks.