What Is A Subchapter-S Corporation (S-Corp) And Do I Need It?

Posted by: Adair M. Buckner

What Is An Subchapter-S Corporation (S-Corp) And Do I Need It?

Oftentimes, I have clients come to me asking for an S-Corp, not knowing what this really means.

An S-Corp is not a different form of corporation, but rather a special tax treatment of one or more standard Texas corporations. The incorporation with the Texas Secretary of State actually has nothing to do with the S-Corp status.

After the business has been incorporated, an election must be made with the IRS to treat the corporation as a Sub S-Corp. This means its income or losses are not taxed to the corporation, but they directly flow through to the shareholders.

The wisdom of election to have your corporation treated as an S-Corp is a tax accounting issue you should discuss with your CPA. There are pros and cons depending on your personal tax situation.

If you are considering incorporating and want more information about the S-Corp election, contact Adair M. Buckner to request a free initial consultation*.

*(The free consultation does not cover actual review of documents or giving legal advice on a specific situation.)


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