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Old 01-22-2007, 01:44 AM
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How does one convert from C Corp to S Corp?

Dear TaxGuru,

What is the procedure for converting a C Corporation to an S Corporation, as I want to avoid paying double taxes?



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Old 01-23-2007, 12:33 AM
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This is a smart move, usually the procedure is to file an election on Form 2553, (Election by a small business corporation)

I would recommend that you have your CPA fill this form out as there are some questions that need to be addressed.

Also, do not forget to file a form for your State as well, election to convert to an S corporation.



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