As you probably know if you’re reading this, a North Dakota S corporation often allows a business owner to save big on self-employment and Obamacare taxes.
No kidding, the annual S corporation tax savings can run ten thousand dollars or more per shareholder.
For this reason, we’ve created a couple of do-it-yourself kits which North Dakota business owners can use to operate as a Subchapter S Corporation.
Our North Dakota S Corporation kit
The recommended kit uses a limited liability company as the foundation of an S-corporation. We like the LLC foundation because the LLC’s governance is easier, as illustrated by the relatively straightforward operating agreement you get in our kit. But you can also use a corporation as the foundation before making the S-election, and our kit includes templates of corporate bylaws you can use.
No matter which kit you use, you get: complete instructions for forming the entity including the steps for filing your documents with the state, the steps for instantly obtaining a federal EIN, and the process for successfully making the Subchapter S election.
The limited liability company version of the kit is available here:
Alternatively, the corporation version is available below:
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Additional Resources
Making Shareholder Distributions Look Reasonable to an IRS Agent: S-corporation owners have two types of income… make sure you have the right mix.
Blue Collar S Corporations: Just because you don’t wear a suit and tie to work or have a modest self-employment income doesn’t mean you can’t save on taxes.
Why Small Businesses Should Outsource Payroll: There are a few reasons you may not want to take the do-it-yourself approach with payroll.