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U.S. Subchapter S Corporation Income Tax Returns


Domestic corporations and domestic entities eligible to elect to be treated as a corporation which meet certain other parameters can choose to file Form 2553 for the entity to be treated as a Subchapter S Corporation (“S Corporation”) for U.S. and most state income tax purposes. An S Corporation is generally treated as a flow-through entity whereby the entity’s income/loss is allocated to its shareholders (similar to a partnership). Some of the other parameters that must be met in order to qualify to elect to be an S Corporation are that the entity must be owned by no more than 100 owners; its only shareholders are individuals, estates, and exempt organizations or certain trusts; it must have no nonresident alien shareholders, it must have only one class of stock; it must not be an ineligible corporation (e.g. a bank or thrift, insurance company, or a DISC); it must have a specific taxable year; and its shareholders must consent to the S election.


Elisa Fay


Partner-in-Charge Rödl National Tax

+1 404 525 2600

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