What is the qualification to file an S Corporation?
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A S corporation is a pass-through entity an L.L.C or a partnership where the members and the partners file income tax rather than a corporation's return.
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Some businesses qualify for S-Corporation filing, while others do not. In order to start an S - Corporation, the company may have only one class of stock. S Corporation formation is more suitable for small and family businesses and for those who starts their business with small investment.
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A social security number is required to file an S Corporation and it is subject to have a resident status in the United Status.
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Generally, the Federal estimated time to approve the S Corporation status is 4-6 weeks.
https://incorporateexpert.com/File-A-Form-2553-with-the-internal-revenue-service-for-an-s-corp
