Legal Question in Business Law in New York
Federal and State, the same?
Hi I am filing for S-corp status federally. I was told that some states may require you to file in your state also. Do I have to file for S-corp status to New York state or does the federal election cover me?
Thank You and I appreciate the fact that you lawyers are willing to give free advice to help people out(even though some won't help if you ask a 2nd question directly lol)
Asked on 1/20/05, 11:23 am
1 Answer from Attorneys
Norman Nadel
Norman Nadel, Esq.
Re: Federal and State, the same?
You have to file for S corporation status in New York; otherwise the corporation will be treated as a C corporation for the New York Franchise tax.
Answered on 1/20/05, 1:58 pm
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