top of page

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

Updated: Oct 15, 2019

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.


By Way of Context ...

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

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.

15 views0 comments


bottom of page