Deciding between starting a limited liability company or corporation? We prepare the documents. To clarify any confusion about what an S corporation actually is, you will make an election with the IRS to be treated using the laws in Subchapter S of the Tax Code. Forming a Kansas corporation is a great way to do business in the plains. Banks and saving and loan associations allowed to file as a small business corporation at the federal level are not allowed to file as a small business corporation at the Kansas … Kansas S Corporation shareholders cannot normally be held liable for legal judgments against the corporation, or for any of the corporation’s debts or obligations. LegalZoom provides Kansas corporate formation and filing services, including providing a registered agent in Kansas. Income and losses must be allocated based upon ownership percentages. The bylaws can contain any provision for managing the corporation’s business and affairs. The articles must also state the designation, powers, preferences, rights, limitations and restrictions for each class of shares or state that the directors are authorized to determine these matters. Each shareholder includes the income, or loss, from the S corporation on his or her income tax return. The Articles of Incorporation cost $90 ($89 online) to file. Maintenance fees are similar, however—the cost of submitting an annual report for both entities is $50. How to Incorporate in Kansas: Order Online! Kansas has no individual or corporate alternative minimum tax. Kansas S corporations cannot have more than 100 shareholders; shareholders cannot be other corporations, Limited Liability Companies (LLCs), partnerships, certain trusts or non-resident aliens. Depending on how the company is set up, it could potentially cost thousands of dollars to get a certificate of incorporation. The following general purpose clause is sufficient: “The purpose of the corporation is to engage in any lawful act or activity for which corporations may be organized under the Kansas general corporation code.”. Appointing yourself registered agent for your company sounds like it might be the simplest solution, but in fact, it's not advisable. Consult with your tax advisor or contact the Kansas income tax agency to determine whether a separate S Corporation election form is required for Kansas and what, if any, Kansas taxes apply to S Corporations. The KanAccess sign-on enables businesses to submit filings online and access their … InCorp prices starting at $99 plus applicable state fees. You can find information on any corporation or business entity in Kansas or another state by performing a search on the Secretary of State website of the state or territory where that corporation is registered. Please Do Not Staple Our Customers Say "Excellent" 5 out of 5 based on 150 reviews. FAQ About MaxFilings. This is what "becoming an S corporation" actually means. Partner with a company that has helped form over 50,000 LLC's, Corporations and S-Corporations nationwide. C-Corp and S-Corp refer to taxation with the IRS, not to legal structures. Name Availability (check to see if a business name is available); Charitable Organizations (view information on registered charities in Kansas); Trademark/Service-Mark Search (view information for a Trademark/Service-Mark on file with the Secretary of State); Note: The state of Kansas does not register sole … Kansas requires corporations to file an annual report, which is due on the 15th day of the fourth … There can be some limitations as to the kind of business Kansas S corporations are allowed to conduct. Our competitive pricing includes all state fees and other charges so you’ll have no surprises later. Best of all, your satisfaction is 100% guaranteed! Thank you for subscribing to our newsletter! Kansas S corporation shareholders enjoy limited liability for the debts, obligations and liabilities incurred by the business as well as liability stemming from possible legal action. Compared to other business structures, it’s expensive to start and run a C corporation. The Kansas Secretary of State requires a fee when filing articles of incorporation or reserving a corporation name. Form 2553 electing special tax status must be filed with the IRS. You can file the document online or by mail. Protection of Kansas S Corporation shareholders’ personal assets is one of the major reasons State business owners choose to incorporate. Can I Form an LLC While Employed or Working at Another Job? When converting an LLC to an S corporation, the first step is to figure out if the LLC qualifies for S corporation status.Not every corporation can be taxed as an S corporation. For example, one exception to a shareholder's limited liability occurs when the corporation has recklessly harmed people or has been used to perpetuate fraud. Find out what they are. © LegalZoom.com, Inc. All rights reserved. Step 3: Make the S Corp Election. Your corporation is taxed as a C-Corp unless you file an election to be taxed as an S-Corp (explained below). For some startups, it might be useful to shop around before filing. US State Specific Incorporation Resources, Characteristics of a Limited Liability Partnership, Form an LLC in 3 Easy Steps at MaxFilings, How to Start a Corporation Without Stress. Starting an LLC in Kansas is easy, just follow these simple steps: Forming an LLC in Kansas is easy. Both offer you personal liability protection, but what about taxes? All information must be complete or this document will not be accepted for filing. Unlock packages that include custom bylaws, operating agreements and banking resolutions. You can conduct a name availability search on the Secretary of State’s website. Bylaws cannot include anything that is inconsistent with the law or the articles of incorporation. Step 2: Choose a Kansas Registered Agent. Your order is processed and sent to the state within 24 hours of being received. Each business structure has its advantages and disadvantages. LegalZoom provides Kansas corporate formation and filing services, including providing a registered agent in Kansas. The first step in starting your S-Corporation giving your business an official name. Corporations are also required to pay state and federal income taxes. Kansas corporations must keep corporate records at the principal place of business. The registered office is the registered agent’s business address. We are not When you're ready to incorporate, we can guide you step by step. There may be additional benefits to forming a corporation, such as tax savings. Unlike C corporations, a Kansas S corporation does not itself pay any income taxes. Thinking about forming an LLC while employed at another job? Process of Conversion Prior to filing the necessary conversion documents with Kansas Secretary of State, the company needs to hold a meeting of members (LLC) or directors and shareholders (corporation) and officially approve the conversion. The following guidelines apply when specifying a registered agent: You can state your corporation’s purpose in general terms to provide your corporation with flexibility. You receive a FREE 1-year registered agent service with all of our packages and a guaranteed $99/year rate for the life of your contract. 4 9/19/18 tc Find out more about how you can incorporate. Once Form 2553 is filed, the corporation will not have to pay federal corporate income tax except on some forms of passive income. There can be limitations on certain fringe benefits for major shareholders. 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