New York 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 York and is available for immediate download.
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This S-Corporation Status Kit for New York 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 York
New York S-Corporation Status – Kit
Product Details
| Product | New York 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 | #40217 |
| 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 be passed through to shareholders, avoiding double taxation at the corporate level.
To qualify for S-Corporation status, your corporation must meet certain criteria, including having a limited number of shareholders, being a domestic corporation, and having only allowable shareholders.
The kit includes essential documents such as a checklist for S-Corporation status, notice templates for special meetings, affidavits, and resolutions required for compliance.
Yes, you can elect to change your corporation's status to an S-Corporation after formation, provided you meet the eligibility requirements outlined in the kit.
Electing S-Corporation status allows for pass-through taxation, meaning that the corporation itself does not pay federal income tax. Instead, profits and losses are reported on the shareholders' personal tax returns, potentially lowering overall tax liability.
Is This Form Right For You?
Use This Form If:
- Individuals who are starting a new business in New York may need this S-Corporation Status Kit to understand the requirements for qualifying their corporation as an S-Corporation. This kit provides essential guidelines that help ensure compliance with both state and federal regulations.
- For those who currently operate a corporation and wish to change their tax status to that of an S-Corporation, this kit serves as a comprehensive resource. It includes necessary forms and checklists that facilitate the transition and help avoid potential legal pitfalls.
- Situations requiring a special shareholders meeting to discuss the S-Corporation status can benefit from this kit. It contains templates for notices and minutes that streamline the meeting process and ensure all legal requirements are met.
- Business owners looking to maximize their tax benefits may find this kit invaluable. By providing the necessary documentation and information, it assists in navigating the complexities of S-Corporation tax treatment, which can lead to significant savings.
- Entrepreneurs who wish to protect their personal assets while enjoying the benefits of pass-through taxation will need this kit. It outlines the steps to establish S-Corporation status, ensuring that they can take advantage of the favorable tax treatment available.
Do Not Use If:
- – This kit is not appropriate for individuals who are not forming a corporation. If you are starting a sole proprietorship or partnership, different forms and guidelines apply.
- – If your corporation does not meet the eligibility requirements for S-Corporation status, such as having too many shareholders or ineligible shareholders, this kit will not be useful.
- – For businesses that are already classified as C-Corporations and do not wish to change their tax status, the S-Corporation Status Kit is unnecessary.
- – If you are looking for information on other business structures, such as LLCs or partnerships, this kit will not provide the relevant information you need.
- – In cases where legal advice is required for complex corporate structures or tax situations, relying solely on this kit may not be sufficient.
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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 York
New York State
Department of State
Division of Corporations
41 State Street
Albany NY 12231
Telephone: (518) 473-2492
State web address: http://assembly.state.ny.us/leg/
State law reference: New York Business Corporation Law.
Title of filing: Certificate of Incorporation.
Filing Fees: $125.
Other fees: Organization tax, minimum $10, variable, based on stock. (New York Tax Law, Section 180).
Name reservation: Reservable for 60 days for $20 fee, renewable twice. (Section 303).
Name requirements: Corporation, Incorporated, Limited, or abbreviation. (Section 301(a)(1)).
Incorporator requirements: One or more natural persons, 18 years or older. (Section 401).
Corporate purpose requirements: General “all purpose” clause (see instructions). (Section 201(a)). (But see
Other Provisions below).
Director requirements: One or more. (Section 702).
Paid-in capital requirements: None.
Annual report requirement: Biennial statement due to Secretary of State. (Section 408).
Publication requirements: None.
Other provisions: Purpose must state that corporation is “not formed to engage in any act or activity requiring the
consent or approval of any state official, department, board, agency or other body without such consent or approval
first being obtained.” (Section 402(a)(2)). Articles must state the name of the county where the corporation’s office
will be located. (Section 402(a)(3)). Also, Articles must appoint N.Y. Secretary of State as agent upon whom
process may be served. (Section 402(a)(7)). Articles still must include the address to which the Secretary of State
should mail a copy of any process against it served upon him, (Section 402(a)(7)), and keep its address for service
of process current by filing it in its biennial statement, or in a Certificate of Change or Certificate of Amendment,
as appropriate. If the corporation is to have a registered agent, the Articles must provide his name and address
and state that he will be the agent upon whom process against it may be served. (Section 402(a)(8)). The stateprovided
Certificate of Incorporation form suggests authorizing 200 shares of stock with no par value, but this is
merely a suggestion.
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