Make Fillable Legal Texas Startup For S-Corporation Forms For Free

While Texas does recognize the federal S election, S corporations are nevertheless subject to the state's franchise tax. An individual shareholder, however, does not owe state tax on whatever portion of the corporation's net income they ultimately receive.

It costs $300 to file for a Texas LLC. If you use a service or attorney to file the forms, there may be additional fees associated with the formation of the company.

Texas S Corporation IRS Process Before you apply, be sure your business meets the requirements to be an S Corp. Once you confirm you meet the requirements, you may apply for S Corporation status with the IRS by filing Form 2553. The State of Texas recognizes the federal S Corp election.

After completing Form 201, you'll need to submit it to the Texas Secretary of State. You can submit Form 201 in several ways, by fax, hand delivery, or by mail. There's a fee of $300 to complete Form 201.

REMEMBER, ONCE WE SET UP YOUR INITIAL TEXAS CORPORATION THEN YOU WILL NEED TO FILE IRS FORM 2553 TO COMPLETE THE S-CORP STATUS ELECTION. Assumed Name Certificates: These are DBA's placed under your Texas corporation and we process them for $75/each. We provide this as a separate service for only $75/return.

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.