What is the name of your state? OK
I'm considering incorporating and taking the sub S election. I would be the sole director.
The fill-in-the-blanks incorporation paperwork my state uses would "authorize" my company to issue shares, but do I have to issue any at all, even to myself? If there's no shareholders to pass thru the profit or loss to, what happens? Does it just accumulate tax-free inside the corporation? (I would follow all the IRS guidelines about reasonable wages for myself as a director, of course, and pay the proper quarterly payroll taxes on that.)
I'm considering incorporating and taking the sub S election. I would be the sole director.
The fill-in-the-blanks incorporation paperwork my state uses would "authorize" my company to issue shares, but do I have to issue any at all, even to myself? If there's no shareholders to pass thru the profit or loss to, what happens? Does it just accumulate tax-free inside the corporation? (I would follow all the IRS guidelines about reasonable wages for myself as a director, of course, and pay the proper quarterly payroll taxes on that.)