I AM FILING THE ARTICLES OF INCORPORATION WITH THE SECRETARY OF STATE. HOWEVER, I WOULD LIKE TO CLARIFY THE FOLLOWING:
TO BECOME AN "S" CORPORATION, THAT REQUEST IS SUBMITTED DIRECTLY TO THE IRS CORRECT? AND THIS IS DONE BY SUBMITTING FORM 2553 "ELECTION BY A SMALL BUSINESS CORPORATION"? Please advise, I would greatly appreciate any guidance. Best Regards
Real Estate Attorney
You are correct.
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Yes, that's the procedure.
The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts not reflected in the question. I am not your attorney until retained by a written retainer agreement signed by both of us. I am only licensed in California. See also avvo.com terms and conditions item 9, incorporated as if it was reprinted here.
I agree with all other lawyers. First file the Articles of Incorporation. Then fill out the from 2553, which requires some of the same information, to make the S election within 75 days of the information, unless some exceptions apply. No more form 3560 for California is needed for several years now.
As all the other attorneys have stated - you are CORRECT! The articles for a corporation have no impact on what makes it an "S" Corporation. It is the filing of Form 2553 that makes it an "S" coporation. Be sure that your organizational meeting minutes authorize the election to be treated as a small business. File the Articles of Incorporation with the Secretary of State, Form 2553 with the IRS, and keep your organizational meeting minutes in your corporate record book.
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