Legal Question in Business Law in Georgia

S-Corporation requirement

Dear Counselor,

Hope this mail will find you in good cheers. I'm seeking your advise on forming a company. I'm in the united states for the past 5 years on work visa (H1 B). My green card is in progress. Now while continuing to be on H1 B visa with my employer I'm planning to start my own company aside.

If the business structure is going to be a S-corporation, will I be eligible to do it as the requirement for S-Corporations says all share holders (including the owner) must be US resident.

As per IRS, anyone paying taxes falling under the category

''substantial presence test'' are residents. Please clarify.

Thanks,

Sekar


Asked on 8/15/04, 4:41 pm

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: S-Corporation requirement

I represent a number of start-up companies, but I don't do any immigration or tax law. However, I work closely with other attorneys who work in these areas and we frequently work together on specific cases. If you would care to discuss, please feel free to give me a call.

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Answered on 8/15/04, 5:39 pm


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