single member LLC filing as an S-Corp/adding a shareholder

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  • mario100
    Junior Member
    • Nov 2017
    • 14
    #1

    single member LLC filing as an S-Corp/adding a shareholder

    I have a client who filed Form 2553 for his LLC to elect to file as an S-Corp. He is listed as being a Single Member LLC. He wishes to add another shareholder to the S-Corp, and i'm trying to find out if this is allowed. For tax reporting purposes, I do not see the issue, but how he is listed everywhere else, he is a single-member entity. Is there a problem with adding the shareholder? I know that they will need to create an operating agreement, but overall I want to make sure I am not missing anything they should do.
    Thank you!
    Tags: None
    • Lion
      Senior Member
      • Jun 2005
      • 4698
      #2
      In CT, you would report the change in shareholders to The Secretary of the State.

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