Setup Agile Business - Establish Your LLC as an S-Corp

An S corporation (or S-Corp) is the most common corporate structure for small businesses. S corporations are beneficial to small businesses due primarily to the tax benefits and legal protection afforded to its shareholders. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. FiveWhyz owners LLCs are therefore also set up as an S-Corp.

In order to become (elect status of) an S corporation, the corporation must submit Form 2553 Election by a Small Business Corporation. Again, this is a free service, from the Small Business Corporation.

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By Way of Context ...

You are looking at a part of a series of blog posts. The series looks like:

• Decide on a business name

• Validate you can use the name

• Claim your domain

• Establish a legal business entity

• Establish your logo

• Set up federal taxation

• Establish your LLC as an S-Corp

• Establish your website

• Find a small business accountant

• Find a small business lawyer

• Establish a business banking account

• Setup accounting tools

• Get business insurance

• Other tools you might be interested in

And remember, I am not an accountant. I am not a lawyer. You will want to get help from these experts and should defer to their opinion in the event that what you read on this page differs from their opinion.