Utah Election of 'S' Corporation Status and Instructions - IRS 2553
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How to fill out Election Of 'S' Corporation Status And Instructions - IRS 2553?
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To form an S Corp in California, you must file Form 2553 (Election by a Small Business Corporation) with the IRS and then complete additional requirements with the state of California, including filing articles of incorporation, obtaining licenses and permits, and appointing directors.
In order to become an S corporation, the corporation must submit Form 2553, Election by a Small Business Corporation signed by all the shareholders. See the Instructions for Form 2553PDF for all required information and to determine where to file the form.
You can file your Form 2553 with the IRS online, by fax, or by mail.
How to File as an S Corp in Utah in 6 Steps Step 1: Choose a Business Name. ... Step 2: Appoint Directors and a Registered Agent. ... Step 3: File Certificate of Organization. ... Step 4: Create an S Corp Operating Agreement. ... Step 5: Apply for an Employer Identification Number. ... Step 6: File Form 2553 for S Corporation Election.
If you're an existing business You must file Form 2553 within two months and 15 days of the beginning of the tax year that you want your S corp tax treatment to start. For example, if you want your existing LLC to be taxed as an S corp in 2023, you need to file Form 2553 by March 15, 2023.
You need to file Form 2553, Election by a Small Business Corporation to be treated as an S corporation by the IRS. You may file the form online, but only from the ElectSCorp website. If you would prefer to file it offline, these instructions may be helpful.
Can I set up an S corp myself? While it is possible to file articles of incorporation and go through the S corporation election process alone, S corp requirements are both strict and complex. To ensure you're following the rules, we recommend consulting an attorney or tax professional.
To form a Utah S corp, you'll need to ensure your company has a Utah formal business structure (LLC or corporation), and then you can elect S corp tax designation. If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status.