corp kit

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  • TAX
    Senior Member
    • Dec 2005
    • 330

    #1

    corp kit

    Client setup as LLC with sec of state but then elected to be scorp with IRS.

    Which corp kit do I need to order?

    (A) Corporation kit for LLC
    (B) Corp kit for Scorp
    (C) Both

    Thanks!
  • ChEAr$
    Senior Member
    • Dec 2005
    • 3872

    #2
    Hmmm. decisions, decisions:

    Originally posted by TAX
    Client setup as LLC with sec of state but then elected to be scorp with IRS.

    Which corp kit do I need to order?

    (A) Corporation kit for LLC
    (B) Corp kit for Scorp
    (C) Both

    Thanks!
    Always decisions.

    If you're going to order one, A. above I'd say. Although why need a "kit" at all?

    All the paperwork is done by the lawyer, to include the membership agreement which governs how the LLC works. Stock is not issued, although good idea to give some kind
    of certificate to members evidencing ownership.

    All my LLC's have no kit.
    Save money.

    In fact my S corporation doesn't even have a "kit". Necessary documents are in a file folder, and I don't
    need any fancy "seal" to stamp documents.
    the one stock certificate for my 500 shares is a common, generic one off the web.
    ChEAr$,
    Harlan Lunsford, EA n LA

    Comment

    • BOB W
      Senior Member
      • Jun 2005
      • 4061

      #3
      I would order a kit for the LLC. That is the official state registration. Any other elections are for tax purposes only. Within the "KIT" are all your papers and elections.

      Your confusion is taken well and should there be stock certificate issued..? I don't know. But your corp kit should elect Officers for the SCorp for tax purposes.
      Last edited by BOB W; 01-27-2009, 03:21 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.

      Comment

      • ChEAr$
        Senior Member
        • Dec 2005
        • 3872

        #4
        LLC's

        Originally posted by BOB W
        I would order a kit for the LLC. That is the official state registration. Any other elections are for tax purposes only. Within the "KIT" are all your papers and elections.

        Your confusion is taken well and should there be stock certificate issued..? I don't know. But your corp kit should elect Officers for the SCorp for tax purposes.
        do not have officers; only members, with one designated as "managing member". He functions not as a president, but as a general manager.

        No stock certificates, either. Stock is only issued by genuine corporations, not by
        "look alike for tax purposes" entities.
        ChEAr$,
        Harlan Lunsford, EA n LA

        Comment

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