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Can my LLC with US and Foreign members be a shareholder in

an S Corporation? The K-1...
Can my LLC with US and Foreign members be a shareholder in an S Corporation? The K-1 would go to the LLC.
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Answered in 1 minute by:
11/6/2017
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,977
Experience: 15years with H & R Block. Divisional leader, Instructor
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No, 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).
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,977
Experience: 15years with H & R Block. Divisional leader, Instructor
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Category: Tax
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