Ephesians3-14
Level 8
12-06-2019
04:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a new client who set up an S Corp in January 2018 - owns 100%.
Now, in May, he decides to add a shareholder. They will each own 50% of the S Corporation. Since the original Form 2553 was filed back in January 2018 with just the one shareholder's consent/authorization. Does a new Form 2553 need to be filed so that the new shareholder can consent?
Any help/guidance would be appreciated.
Solved! Go to Solution.
Labels
TaxMonkey
Level 8
12-06-2019
04:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, after a corporation becomes an s-corp you do not need the approval of new shareholders.