S Corp Election
Once you have formed a corporation or an LLC, you can choose to elect S corporation tax status with the Internal Revenue Service. The S corporation tax status election allows you to retain the benefits provided by either a corporation or an LLC, while adding the tax benefits afforded to a pass-through tax entity.
Make Your Election Now
Why Elect S Corporation
Status through GoSmallBiz?
Protect your assets
Shareholders, directors, and employees all benefit from limited liability protection and are not liable for the claims of creditors or legal actions taken against the business.
Avoid double taxation
When you elect S corporation status for your business, the corporation is not taxed on its net income, but instead passes that income or loss directly through to the business owners.
Shareholders of a corporation or LLC that have elected S corporation tax status are not subject to self-employment taxes in most cases.
Don’t worry about the paperwork
GoSmallBiz will help you quickly and accurately file the forms necessary to elect S corporation tax status for your corporation, or LLC, so you can start saving money.