What type of business is an s corporation?
I am an Introduction to Business student in a Business Administration major. I have a question regarding S corporations.
I would like to know what type of business can you open under an S corporation? For example, can it only be a franchise, small, or accounting firms, etc?
To my knowledge, the S Corp status is not limited to any specific business type. However, there are requirements that you must meet in order to qualify. I’ve included a link to our S Corp guide which includes all of this information.
S Corp Guide: https://fitsmallbusiness.com/s-corp-taxes/
All the Best-
Crystalynn Shelton, CPA