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New S-Corp confused on # of shareholders

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    New S-Corp confused on # of shareholders

    Their form 2553 list 4 people but the 2 of the people are spouses of the 2 shareholders.

    Shareholder 1 has 500 shs
    Shareholder 2 has 0 shs but is the spouse of shareholder 1

    Shareholder 3 has 500 shs
    Shareholder 4 has 0 shs but is the spouse of shareholder 3

    #2
    Perhaps they intended the spouses to be officers, not shareholders?

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      #3
      S Corp has 4 shareholders. The issues is only relavant when the maximum shareholders is reached, even then each is a shareholder but husband/wife is considered as one only for calculating how many shareholders.. All 4 shareholder own 25% each.
      Last edited by BOB W; 06-01-2012, 03:18 PM.
      This post is for discussion purposes only and should be verified with other sources before actual use.

      Many times I post additional info on the post, Click on "message board" for updated content.

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        #4
        Arizona is a community property state. Each couple owns 50% of the corporation. Each spouse has an undivided 50% interest in the stock.

        Maribeth

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