Add Text To Legal Louisiana Startup For S-Corporation Forms For Free

The answer to the question of "can an S corp own an S corp?" is yes, but it must own 100 percent of the shares of that S corp's stock and treat it as a subsidiary. An S corporation is a corporation established by state law that has elected to be treated under Subchapter S by the IRS for tax purposes.

Technically an S Corporation is a pass-through entity but Louisiana income tax law does not recognize Subchapter S corporation status. An S corporation is required to file income tax in the same manner as a C corporation.

Here is a brief overview of the tax forms a typical S corporation needs to file with the IRS. Form 2553 ? S Corporation Election. ... Form 1120S ? S Corporation Tax Return. ... Schedule B ? Other Return Information. ... Schedule K ? Summary of Shareholder Information. ... Schedule K-1 ? Individual Shareholder Information.

In this setup if you want to utilize an S Corp, you would need to have a separate S Corp election for each entity. That also means that you have to run payroll for each entity and you would need to file a separate business tax return for each entity.

owner S Corp is a tax status associated with a singlemember LLC. An S Corporation allows you to pass income, losses, and deductions through the corporation to shareholders. In a singleowner S Corp, there is a single shareholder?the owner of the corporation and operator of the LLC.

Step 1: Name your Louisiana LLC. Start by giving your LLC a name. ... Step 2: Designate a registered agent in Louisiana. ... Step 3: File Louisiana Articles of Organization. ... Step 4: Create an LLC operating agreement. ... Step 5: Apply for an EIN for your Louisiana LLC. ... Step 6: File form to apply for S corp status.