mercredi 9 avril 2014

Company incorporated in last week of Dec, 2013

My company (filing 2553 for s-corp) was incorporated in last week of Dec, 2013. So it has less than 7 days presence in the tax year of 2013. It did no business during that period (no income, profits etc in less than 7 days in 2013) and none since then. It's a sole-officer company. Even though the company is authorized to issue 20,000 shares, the company hasn't issued any shares yet (no shareholders as yet).



So, does the 1120S form need to filed for 2013 with IRS? Since there is no income, no issuance of stock etc so far, there isn't anything to file in 1120S.



The company also needs to file s-corp status election form 2553. The 2nd page of form-2553 asks for % of shares by shareholders and shareholders' consent. Is it OK for the company to not have any shareholders and therefore no consent in 2553?



Thanks in advance



ps: In case it's relevant, the company is incorporated in CA and CA doesn't require any tax filing if the company had a tax year of less than 15 days and no income.




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