Legal Question in Business Law in California
I have a Regular "C" Corporation in California. One of our shareholders is not a U.S. citizen. Can we change to an "S" Corporation with this in mind? Thank you.
Asked on 1/15/12, 9:15 am
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
An "S" corporation cannot have a nonresident alien as a shareholder, so your answer depends upon your shareholder's residency status. If he or she is a lawful U.S. resident, you've met this requirement; if not, you cannot convert.
Answered on 1/15/12, 10:11 am
Related Questions & Answers
-
Can a U.S. reseller invoke the anti-trust law if the manufacturer (supplier)... Asked 1/10/12, 10:27 pm in United States California Business Law
-
Is it illegal to purchase pirated DVDs? I bet my friend that it is. Asked 1/10/12, 9:21 pm in United States California Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
