Kiritsis & Associates

 

CAN A LIMITED LIABILITY COMPANY BE CONVERTED INTO AN 2-CORPO.?

Law Offices of John Kiritsis & Associates

 

212 922 0005

 

Yes, a Limited Liability Company (LLC) can be converted into an S Corporation (S-Corp) by making an S Corporation election with the Internal Revenue Service (IRS). However, to be eligible to make the S Corporation election, the LLC must meet certain requirements, such as having only allowable shareholders, which include individuals, certain trusts, and estates and not having more than 100 shareholders. Additionally, S Corporations have restrictions on the types of activities they can engage in and limits on the number and type of shareholders they can have.

 

Sources:

New York Business Corporation Law

New York Limited Liability Company

New York General Obligations Law

NYS Office of Professions

U.S. Constitution

 

Whether you are a new business startup or a well-established company, our law firm can help you with all of your business law legal needs. For a free consultation, you can call us at 212 922 0005.

 

Law Offices of Kiritsis & Associates

Phone # 212 922 0005

Manhattan Office (Main Office):

633 Third Avenue

New York, NY 10017

Suite 1306

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor

 

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We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law firm headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs,  start-ups to established business organizations.

 

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Phone# 212-922-0005

 

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