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There are 28 million small businesses in the U.S. -- which outnumber corporations 1162 to 1.
Small businesses employ 57% of the country's private workforce.
Only 50% of businesses survive five years.
60 to 80% of all new jobs come from small businesses.
For further assistance with filing an SCorp Election or questions regarding the process please contact our specialists at 888-300-3039.
S corporations do not pay any federal income taxes. Instead, the corporation's income or losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns.
Must be a liability entity (a domestic corporation which has elected to be taxed as a corporation).
Must have only one class of stock.
Must not have more than 100 shareholders.
Shareholders must be U.S. citizens or
residents, and must be natural persons, so corporate shareholders and
partnerships are generally excluded. However, certain trusts, estates, and
tax-exempt corporations, notably 501(c)(3) corporations, are permitted to be
Profits and losses must be allocated
to shareholders proportionately to each one's interest in the business.
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