QUICKNCORPORATE LLC
MIAMI, FLORIDA

has elected to be taxed under subchapter S of chapter 1 in the Internal Revenue Code. This election classifies the business as an S corporation and allows it to forego paying federal income tax. The S corporation is a pass through entity that divides its profits or losses among the stockholders who will in turn report those income or losses to the federal government and pay the appropriate taxes based on their individual income. This election essentially prevents double taxation. A corporation must file form 2553 to be an S corporation.  If the business is an LLC, it must first file form 8832 to be classified as a corporation. s a for profit corporation, which can have an unlimited number of owners, and has no restrictions on who can be a shareholder.  Owners of a C corporation benefit from liability protection; they cannot be held accountable for the liabilities of the corporation.  The C corporation is the ideal business structure for raising capital and is therefore most popular among large corporations; it is subject to double taxation and must file a state income tax return.