S-Corp Tax Election Filing
Elect S corporation tax treatment by filing IRS Form 2553. We prepare and file the election for $97 and submit it within 1 to 2 business days. Form 2553 has a firm deadline, so check the timing rules below.
File Your S Corp Tax Election Today
What is an S Corp Tax Election?
Who Is Eligible for S Corp Status?
- Your business is a domestic corporation, or a domestic LLC eligible to be treated as a corporation.
- It has no more than 100 shareholders. Certain family members count as one shareholder.
- Its shareholders are individuals, estates, certain exempt organizations, or certain trusts. Partnerships and corporations cannot hold shares.
- It has no nonresident alien shareholders.
- It has only one class of stock, disregarding differences in voting rights.
- Every shareholder consents to the election by signing Form 2553.
When Form 2553 Must Be Filed
The IRS sets a firm window for the election. File Form 2553 no more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year before the one it takes effect. For a calendar year business electing for 2027, that means filing by March 15, 2027, or any time during 2026.
If you miss the window, the IRS grants relief for late elections under Rev. Proc. 2013-30 when Form 2553 is filed within 3 years and 75 days of the effective date entered on line E of the form, along with the other conditions the IRS sets out. Our $97 service covers the standard election. A late election filed under this relief procedure is a separate matter to raise with your tax professional.
Source: IRS Instructions for Form 2553 and About Form 2553.
What the $97 S Corp Election Filing Covers
| Included for $97 | Not included |
|---|---|
| Preparation of IRS Form 2553 from the details you provide | Payroll setup and running payroll for shareholder-employees |
| Review of the eligibility tests before we file | Determining reasonable compensation for shareholder-employees |
| Filing the completed election with the IRS | Preparing Form 1120-S or any other tax return |
| Submission within 1 to 2 business days of order confirmation | A separate state level S corporation election where the state requires one |
| A copy of the filed form for your records | Late election relief filings under Rev. Proc. 2013-30 |
The S corp election is a federal tax election. Some states require their own S corporation election or do not recognize the federal one, and state treatment varies. Check with your state tax authority or your accountant for how your state handles it.
Not Eligible? Start Here Instead
An S corporation cannot have nonresident alien shareholders. If you live outside the United States and are not a US citizen or a US resident for tax purposes, the S corp election is not available to you. That does not stop you from owning and running a US company.
Most non-resident founders operate through a US LLC taxed as a disregarded entity or a partnership. It gives you the same liability protection and the same access to US banking and payment processors, without the shareholder restrictions that come with S corp status.
The two steps that get you operating:
- Form the company. Our business registration service files in all 50 states, Washington DC and Puerto Rico for $0 plus the state filing fee.
- Get the federal tax ID. Our EIN application service obtains your EIN for $97, including for founders with no SSN or ITIN.
Why File an S Corp Tax Election?
- Save on Taxes: Avoid double taxation by passing profits directly to the shareholders.
- Protect Your Assets: Combine the tax benefits of an S Corp with the liability protections of an LLC or corporation.
- Simplified Process: Our team ensures your Form 2553 is completed and filed accurately with the IRS.
File IRS Form 2553 with Confidence
How It Works?
Click Order Now
Simply click the "Order Now" button to get started.
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Enter your email address during the checkout process.
Our Team Will Follow Up
After you submit your email, our team will get in touch with you to confirm the specifics of your order. Rest assured, your card won’t be charged at this moment. Once payment is made, your filing will be submitted within 1-2 business days.
Why Choose BusinessAnywhere?
- Affordable Pricing: We offer this service for just $97, with no hidden fees.
- Expert Guidance: Our experienced team makes the filing process seamless.
- Fast Turnaround: We ensure your filing is processed quickly, so you can enjoy the benefits of S Corp status sooner.
Let Us Handle Your S Corp Tax Election
FAQs
What is IRS Form 2553?
Form 2553 is the election a business files to be treated as an S corporation for federal tax purposes. Every shareholder must consent to the election by signing the form.
When is the deadline to file Form 2553?
File no more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year before it takes effect. For a calendar year business, that is March 15 of the year the election starts.
What happens if I miss the Form 2553 deadline?
The IRS provides relief for late elections under Rev. Proc. 2013-30 when the form is filed within 3 years and 75 days of the effective date entered on line E and the other conditions are met. Our $97 service covers the standard election, not a late relief filing.
Who is eligible to elect S corp status?
The business must be a domestic corporation or an eligible domestic LLC with no more than 100 shareholders, only one class of stock, and shareholders limited to individuals, estates, certain exempt organizations and certain trusts. It cannot have any nonresident alien shareholders.
Can a non-resident founder elect S corp status?
No. An S corporation cannot have nonresident alien shareholders. If you are not a US citizen or a US resident for tax purposes, the election is not available to you. An LLC taxed as a disregarded entity or partnership is the usual route instead.
Can an LLC file for S corp status?
Yes. A domestic LLC eligible to be treated as a corporation can elect S corporation treatment by filing Form 2553, provided it meets all of the eligibility tests.
How long does it take to file?
We submit your filing within 1 to 2 business days of confirming your order details. IRS processing time after submission is outside our control.
Do I have to pay myself a salary after electing S corp status?
A shareholder who works in the business must be paid reasonable compensation as wages, which means running payroll. That cost is why the election makes sense above a certain level of profit. Talk to your accountant about the numbers for your situation.
Does my state recognize the federal S corp election?
Treatment varies. Some states follow the federal election automatically, some require a separate state election, and some do not recognize S corporations at all. Check with your state tax authority.
File Your S Corp Tax
Election Today
Avoid tax headaches and maximize your savings with BusinessAnywhere. Our experts are here to simplify the process and handle the details for you.
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