New Jersey S-Corporation Status – Kit
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
This S-Corporation Status Kit contains important information and guidelines for qualifying your corporation for S-corporation status. This kit is for use in New Jersey and is available for immediate download.
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This S-Corporation Status Kit for New Jersey includes the following:
- Notes and Requirements for S-Corporation Status
- S-Corporation Checklist
- Notice of Special Shareholders Meeting Regarding S-Corporation Status
- Affidavit of Mailing of Notice of Special Shareholders Meeting Regarding S-Corporation Status
- Waiver of Notice of Special Shareholders Meeting Regarding S-Corporation Status
- Minutes of Special Shareholders Meeting Regarding S-Corporation Status
- Resolution of Shareholders Regarding S-Corporation Status
Protect Yourself and your Business by using our professionally prepared up-to-date forms.
This attorney-prepared packet contains:
- General Information
- S-Corporation Status Kit for use in New Jersey
New Jersey S-Corporation Status – Kit
Product Details
| Product | New Jersey S-Corporation Status – Kit |
| Country | United States |
| Pages | 11 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | S-Corporation Status |
| Product number | #40215 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
An S-Corporation is a special type of corporation that meets specific Internal Revenue Code requirements. It allows income to pass through to shareholders, avoiding double taxation at the corporate level.
To qualify for S-Corporation status, your corporation must meet certain criteria, including having no more than 100 shareholders, all of whom must be U.S. citizens or residents, and only one class of stock.
The kit includes essential documents such as a checklist for S-Corporation status, notices for shareholder meetings, affidavits of mailing, and minutes of meetings, among others.
This kit is specifically designed for use in New Jersey and complies with state laws. For other states, you would need to find a kit that meets the respective legal requirements.
Electing S-Corporation status allows profits to be taxed only at the individual level, avoiding the double taxation faced by traditional corporations. This can lead to significant tax savings for shareholders.
Yes, to elect S-Corporation status, you must file Form 2553 with the IRS within 75 days of the beginning of the tax year in which the election is to take effect.
Failing to follow the proper procedures for electing S-Corporation status can result in the loss of that status, leading to potential tax liabilities and compliance issues.
While it's not mandatory to hire a lawyer, consulting with one can help ensure that all legal requirements are met and that the process is handled correctly.
Is This Form Right For You?
Use This Form If:
- Individuals who are looking to transition their corporation to S-Corporation status will find this kit essential. It provides the necessary guidelines and documentation to ensure compliance with IRS requirements and state laws in New Jersey.
- For business owners aiming to minimize their tax liabilities, this S-Corporation Status Kit offers valuable resources. By utilizing the forms included, they can effectively convert their corporation's tax structure to benefit from pass-through taxation.
- Situations requiring a formal meeting of shareholders to discuss S-Corporation status are well addressed with this kit. It includes templates for notices and minutes, ensuring that all procedural requirements are met during the transition.
- Entrepreneurs who want to ensure their corporation meets all legal requirements for S-Corporation status will benefit from the comprehensive checklist and notes included in this kit. This helps avoid common pitfalls and ensures a smooth application process.
- For those needing to inform shareholders about the decision to elect S-Corporation status, the included notice templates facilitate clear communication. This is crucial for maintaining transparency and compliance with corporate governance.
Do Not Use If:
- – This form is not appropriate for businesses that do not meet the eligibility criteria for S-Corporation status, such as those with more than 100 shareholders or non-resident shareholders.
- – If your corporation is already classified as a C-Corporation and you do not wish to change your tax status, this kit would not be necessary.
- – For businesses that are sole proprietorships or partnerships, this kit is not applicable as it is specifically designed for corporations.
- – In cases where the corporation has significant accumulated earnings and profits from prior C-Corporation years, electing S-Corporation status may not be advisable without proper tax planning.
- – If you are seeking to dissolve your corporation rather than change its tax status, this kit will not provide the necessary documentation for that process.
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Package of the most frequently used forms to start a corporation for use in all states.
Product Laws
S-Corp Information - New Jersey
New Jersey Division of Revenue
PO Box 308
Trenton NJ 08646-0308
Telephone: 609-292-9292
State web address: http://www.njleg.state.nj.us
State law reference: New Jersey Statutes, Title 14A.
Title of filing: Certificate of Incorporation.
Filing Fees: $125.
Other fees: None.
Name reservation: Reservable for 120 days for $50 fee. (Section 14A:2-3).
Name requirements: Corporation, Incorporated, Company, or abbreviation, or the abbreviation “Ltd.” (Section
14A:2-2).
Incorporator requirements: One or more persons or corporations. (Section 14A:2-6).
Corporate purpose requirements: General “all purpose” clause (see instructions). (Section 14A:2-1).
Director requirements: One or more (may be nonresidents or noncitizens of the United States). (Sections 14A:
6-1, 14A:6-2).
Paid-in capital requirements: None.
Annual report requirement: Yes, to State Treasurer. (Section 14A:4-5). $50 filing fee.
Publication requirements: None.
Other provisions: The number of directors on the initial board, and the names and addresses of the persons who are
to serve as directors, must be stated in Certificate of Incorporation. (Section 14A:2-7). If the shares are, or are to be,
divided into classes, the Certificate must state: (1) the designation of each class and series, the number of shares in
each class and series, and, to the extent determined, a statement of the relative rights, preferences, and limitations
of the shares of each class and series, and (2) a statement of any authority vested in the board to divide the shares
into classes or series or both, and to determine or change for any class or series its designation, number of shares,
relative rights, preferences, and limitations. (Section 14A:2-7). The effective date of the Certificate may be delayed
up to 90 days from the date of filing, if the Certificate so states. (Section 14A:2-7(2)). No preemptive rights unless
stated in the Certificate. (Section 14A:5-29). Certificate should include the principal address of the business.
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