In Nevada, a corporation can obtain S Corporation status in order to avail certain tax benefits offered by the Internal Revenue Service (IRS). To achieve this, certain formalities need to be fulfilled, and one of them is the submission of Corporate Resolutions Forms. The Corporate Resolutions Form plays a crucial role in documenting the decisions made by the corporation's board of directors or shareholders regarding the S Corporation status. These forms outline the actions taken to elect S Corporation status and are usually prepared and signed during a formal meeting of the board or by written consent. There are various types of Corporate Resolutions Forms that can be used to obtain S Corporation status in Nevada, depending on the particular situation and the decisions made by the corporation. Some commonly used forms include: 1. Election of S Corporation Status Resolution: This form is prepared to officially elect S Corporation status for the corporation. It outlines the decision made by the board of directors or shareholders to elect S Corporation status and includes details such as the effective date of the election. 2. Shareholder Agreement to Elect S Corporation Status: In instances where the decision to obtain S Corporation status is dependent on the consent of the shareholders, this form is used. It captures the agreement of each shareholder to elect S Corporation status and may include their respective ownership percentages. 3. Board Resolution to Adopt S Corporation Status: This form is prepared when the decision to obtain S Corporation status is made by the board of directors. It documents the board's resolution to adopt S Corporation status and may include additional details such as the authorized officers to sign any necessary documents on behalf of the corporation. 4. Shareholder Consent to Elect S Corporation Status: In cases where the decision to obtain S Corporation status is made by written consent of the shareholders, this form is used. It captures the consent of each shareholder to elect S Corporation status and may include any necessary majority or unanimous consent requirements. These forms, when properly completed and signed, provide the necessary documentation to support the corporation's decision to obtain S Corporation status. It is important to consult with an attorney or a certified public accountant (CPA) familiar with Nevada corporate law to ensure the correct forms are used and all legal requirements are met. Additionally, keeping copies of these forms in the corporation's records is vital for compliance and potential audits by the IRS.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.