Arizona C-Corporation
A corporation that has not made the election to be taxed as an S-corporation is essentially a C-corporation. C-corporations’ profits are taxed once at the entity level, and again at the shareholder level when distributed as dividends. This is often referred to as the double-taxation problem.
Under certain circumstances, C Corporations may qualify for the S Corporation election, essentially allowing the corporation to be taxed as a partnership, yet maintain the added protection of limited liability that a corporation and/or LLC provide its shareholders or members, respectively.
In order to qualify for S-Corp status, however, certain requirements must be met by the entity seeking the election. Our business attorneys assist our clients with assessing their entity’s eligibility for S-Corp status; with making the election once qualification is confirmed; and with all other incorporation procedures associated with organizing a new business entity in Arizona – corporations and/or limited liability companies.
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