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Showing content with the highest reputation on 08/28/2016 in all areas
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This is IF the business is already a C-Corp PSC and electing to be an S-corp. I don't think the original post was talking about a C-Corp already existing, rather a new business (non corporate) electing to be an S-Corp or a S-Corp continuing as an S-Corp. Only a C-Corp can be a PSC.1 point
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An S-Corp is never a PSC.1 point
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I do not believe that is correct for Federal purposes. Your State law may dictate otherwise.1 point