S Corporations: Qualification Requirements 2024
Webcast
1.00 Credits
Member Price $49.00
Non-Member Price $59.00
Overview
The use of an S corporation election can dramatically affect the tax consequences of owning a corporate business. This course focuses on the requirements that must be satisfied to make and retain this tax election.
Highlights
- Qualified shareholder requirement
- Trusts as shareholders
- Estates as shareholders
- Qualified tax exempt shareholders
- Tax planning ideas to accommodate economic investments by disqualified investors
- Special rules for counting the number of shareholders
- One class of stock requirement
- Indirect preferences creating risk of failing one class of stock requirement
- Disqualified corporations
- Making an effective S corporation election
- Relief for late or defective elections
- Inadvertent termination relief for involuntary terminations
Prerequisites
None
Designed For
CPAs
Objectives
- Identify and discuss the requirements that must be satisfied to make the S corporation election
- Recognize complications related to having trusts, estates, tax-exempt and ESOP shareholders
- Review and application of the one class of stock requirement to accomplish continued qualification
- Determine tax planning ideas to accommodate economic participation by disqualified investors
Preparation
None
Notice
This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.
Non-Member Price $59.00
Member Price $49.00