Description
An S Corporation revocation occurs when a company terminates its S Corp status and reverts to a C Corporation, subjecting the business to corporate-level taxation instead of pass-through taxation.
S-Corp Revocation
$10.00
General information An S Corporation is a tax designation that allows corporations to pass income, losses, deductions, and credits directly to shareholders, avoiding double taxation. Revoking an S Corp election means that the corporation elects to terminate its S Corp status, thereby reverting to a C Corporation status, which subjects the corporation to corporate-level taxation.
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