Legal Question in Business Law in Georgia
S-corp verbage on Articles of Incorporation
When starting a new business, with the intention of becoming an S-corporation:
Do you first become a C-corporation, then later file the 2553 IRS form to becom an S-corporation?
Can you put verbage on the Articles of Incorporation initially stating that you are an S-corporation? Would you later have to amend your Articles of Incorporation to note that you're an S-corporation, if not done so initially?
Can you "do it all", ie. file everything correctly for an S-corporation, in the beginning, one time?
1 Answer from Attorneys
S-corp verbage on Articles of Incorporation
In the state in which I am registered to practice, you do not have to mention the type of corporation in the Articles of Incorporation. You can by actions of the board of directors designate that the corporation will be an S Corporation. You must file with the IRS the proper forms within I believe 60 days. I am not sure of the time frame. My advice is to talk it over with your accountant.
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