S-Corp Tax Entity for Your Start Up or Small Business? Lean on the Experience of an Award Winning Pittsburgh CPA Firm
S Corporations permit shareholders to pay taxes on corporate net income personally, as if it were a partnership.
Closely held corporations may elect to be taxed as federal or state S corporations, which permit shareholders to pay taxes on corporate net income personally, as if it were a partnership. S corporation status is limited to corporations that have no more than 100 shareholders. A Pennsylvania corporation cannot elect to be an S corporation unless it has also applied for federal S status.
To apply for Pennsylvania S status, file with the Pennsylvania Department of Revenue within 75 days of the beginning of your fiscal year. When you receive a copy of your federal notification of approval from the IRS, you must furnish a copy to the Pennsylvania Department of Revenue. S corporations are responsible for filing and paying the Capital Stock and Foreign Franchise Tax.
Dennis Piper & Associates Provides Business Consulting for Start-Ups and Small to Medium Businesses
- Business Start-Up Consulting: Lean on our expertise as you chose your business entity, tax structure,and accounting & business management software. We'll help you with everything to get you business up & operational
- Small - Medium Businesses: Have you outgrown your existing Accounting and Tax Service Provider? We provide auditing services as well as complex tax & business consulting.

