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19 changes: 9 additions & 10 deletions
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content/src/display-content/contextual-information/s-corp.md
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--- | ||
header: S Corporation | ||
--- | ||
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S corporations are entities that choose to pass corporate income, some losses, deductions, and credits to their shareholders for federal and state tax purposes. This allows S corporations to avoid double taxation on the corporate income. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns to be assessed at their individual income tax rates. | ||
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To qualify for S corporation status, the corporation must meet the following requirements: | ||
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Be a domestic corporation | ||
Have only allowable shareholders | ||
May be: individuals, certain trusts, and estates | ||
May not be: partnerships, corporations or non-resident alien shareholders | ||
Have no more than 100 shareholders | ||
Have only one class of stock | ||
Must be an eligible corporation (some financial institutions, insurance companies, and domestic international sales corporations are not eligible). | ||
* Be a domestic corporation | ||
* Have only allowable shareholders | ||
* May be: individuals, certain trusts, and estates | ||
* May not be: partnerships, corporations or non-resident alien shareholders | ||
* Have no more than 100 shareholders | ||
* Have only one class of stock | ||
* Must be an eligible corporation (some financial institutions, insurance companies, and domestic international sales corporations are not eligible). | ||
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The process for becoming a S corporation is twofold: you will need to file for S corporation designation at the federal level and then with the State of New Jersey. They are separate processes with different applications, and your business will need an S corporation designation at both levels in order to file taxes correctly and avoid any potential fees associated with an incorrect tax filing. | ||
The process for becoming a S corporation is twofold: you need to file for S corporation designation at the federal level and then with the State of New Jersey. They are separate processes with different applications, and your business needs an S corporation designation at both levels in order to file taxes correctly and avoid any potential fees associated with an incorrect tax filing. | ||
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Learn about the [pros and cons of a S Corp](https://business.nj.gov/pages/s-corporation-s-corp) | ||
Learn about the [pros and cons of a S Corp](https://business.nj.gov/pages/s-corporation-s-corp) |
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{ | ||
"nexusNameSearch": { | ||
"dbaNameSearchSubmitButton": "Check Availability", | ||
"dbaNameDescription": "Since the business name of your state of origin is unavailable, you will need a DBA name to register your business in New Jersey. Your DBA is the name your business will be referred to in New Jersey.", | ||
"nexusNextButton": "Continue", | ||
"dbaNameDescription": "Since the business name of your state of origin is unavailable, you need a DBA name to register your business in New Jersey. Your DBA is the name your business will be referred to in New Jersey.", | ||
"dbaAvailableText": "**\"${name}\" is available as your DBA Name!**\n\nYou're now ready to authorize your business in New Jersey.", | ||
"availableText": "**\"${name}\" is available!** This name will be registered with the State ONLY after you submit your business authorization", | ||
"searchAgainButtonText": "search again here", | ||
"dbaUnavailableText": "Sorry, the name **\"${name}\"** is already taken in New Jersey. Please search for another DBA name. Here are similar business names that are already taken:", | ||
"dbaNameHeader": "### Find a Doing Business As (DBA) Name", | ||
"unavailableText": "Sorry, the name **\"${name}\"** is already taken in New Jersey. You’ll have to create a Doing Business As (DBA) name, below. \n\n(If you entered the wrong name, ${searchAgainButton}).", | ||
"dbaNameSearchLabel": "DBA Name Search", | ||
"nexusNextButton": "Continue" | ||
"dbaNameSearchLabel": "DBA Name Search" | ||
} | ||
} |
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26 changes: 16 additions & 10 deletions
26
content/src/roadmaps/license-tasks/car-rental-vehicle-registration.md
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