Before making this entry, corporations must complete Schedule C of Form CD-401S. (See instructions on page 5.)Hold an annual shareholders meeting. Most states require that S corporations keep meeting minutes. Here's what you need to know about minutes, why you should keep them, and how they should be kept. If an LLC has elected S Corp tax status, its annual meeting obligation stays the same as its underlying business structure. Use our S corporation tax savings calculator to make a quick estimate of the annual tax savings per owner. Governor Glenn Youngkin today announced continued strength in Virginia's workforce, as reflected in the latest data from the Bureau of Labor Statistics (BLS).