Setting up an S corporation Collecting Payments How to encourage payments from buyers or retailers.
Types of Contracts Learn the difference between implied and express contracts.
A primer on the rules and regulations that govern employers. Legal Setting up an S corporation If you have decided that your corporation should request S corporation status from the IRS, there are several more things that should or must be done. Remember, up to this point there is no difference between the procedure for setting up a C corporation and setting up a S corporation, with the exception of minor changes in the minutes of the directors' meeting and the shareholders' agreement. Now, to elect S corporation status, the following additional tasks must be attended to. The board of directors should include, in the initial or a special meeting, a resolution reflecting this decision.