Election by a Small Business Corporation

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Internal Revenue Service Federal
An eligible domestic corporation can avoid double taxation from the Federal Government by electing to be treated as an "S corporation."

Generally, an S corporation is exempt from federal income tax, other than tax on certain capital gains and passive income. Shareholders must include their share of the corporation's income on their tax returns.

S corporations must file an Election of Small Business Corporation form to register with the IRS. S corporations and their shareholders must include special forms when filing their income and employment taxes. 


For more information, contact:

Internal Revenue Service (IRS)
Business Questions Hotline
Phone: (800) 829-4933
Website: http://www.irs.gov/

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