06 32 RESOLUTION OF DIRECTORS REGARDING "S" CORPORATION STATUS

• Jurisdiction: Arkansas
• Library: Arkansas Form Book - Complete (2023 Ed.)

06-32 RESOLUTION OF DIRECTORS REGARDING "S" CORPORATION STATUS

The chairman then presented to the meeting the question of taking advantage of the provisions of Section 1361 of the Internal Revenue Code (commonly referred to as "Subchapter S" or "S" Corporation status) and the comparable provisions under the Arkansas income tax laws. The chairman explained that unless all of the shareholders of the corporation consent in writing to the election to be taxed as an "S" Corporation, the corporation could not be...