Setting up a Connecticut S Corporation
Do you operate a small business in Connecticut? Did you pay much in self-employment taxes last year? Go ahead, pull up a copy of last year’s tax return. Check page two, line 57. Is there a big number there? Is it five digits or close to it?
You may be able to reduce your tax bill by as much as 15% by making a simple Subchapter S election. You don’t need to go to an attorney or use one of those other online services that can cost an arm and a leg. You can do it yourself, with one of our kits for just $37.95.
If you haven’t set up your business entity yet, we can help with that as well. The kit includes instructions on setting up an LLC or corporation (entity types eligible to make the s-election) in the state of Connecticut, including examples of the forms.
Our Connecticut S Corporation kit
As mentioned above, we sell two different kits, one using an LLC as the base entity while the other uses a corporation. Now you may be thinking “Which one should I use?” If that question popped into your head, you should go most likely go with the limited liability company. Unless there is a specific circumstance to go with a corporation, the LLC generally has less red tape and can be flexible tax-wise.
The LLC version of the kit is here:View Cart
While the corporation version is below:View Cart
Each kit comes with its respective governing documents to help assist you in setting up how the entity will be managed.
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Did you purchase the kit only to find out it wasn’t what you were looking for? Send us a refund request at firstname.lastname@example.org, and we will refund the cost.
How S-Corporations Are Taxed: A Short Primer: Get an idea of how and why s-corporations can save on taxes.
Hiring Your Children as a Tax Loophole: Ensure you set the right mix of salary vs. distributions from your new s-corp.