S-Corp

To qualify for S-Corporation status, the corporation must meet the following requirements

-Be a domestic corporation

-Have only allowable shareholders May be individuals, certain trusts, and estates and

-May not be partnerships, corporations or non-resident alien shareholders
-Have no more than 100 shareholders

-Have only one class of stock Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).