BT&ABT&AGet answers to the most common questions about business formation, compliance, and our advisory services.
Everything you need to know about forming a Limited Liability Company
C Corps, S Corps, and choosing the right corporate structure
A C Corporation is taxed separately from its owners (double taxation — corporate income tax plus personal tax on dividends). An S Corporation is a tax election that allows income to pass through to shareholders, avoiding double taxation. S Corps are limited to 100 shareholders who must be U.S. citizens or residents, and can only have one class of stock.
You file IRS Form 2553 within 75 days of formation (or by March 15 for the current tax year). Most states automatically recognize the federal S-Corp election. New York requires a separate state-level filing (Form CT-6). New Jersey automatically recognizes the federal election for entities formed after December 22, 2022. As of January 2026, Louisiana now recognizes S-Corps as pass-through entities.
Delaware offers a specialized Court of Chancery for business disputes (no juries), well-established corporate law precedents, privacy protections, and flexible corporate statutes. It is the state of incorporation for over 60% of Fortune 500 companies. However, incorporating in Delaware is not the best choice for every business — we help you evaluate whether it makes sense for your situation.
Most states require a minimum of 1 director. Massachusetts requires a minimum of 3 directors if the corporation has 3 or more shareholders — with fewer shareholders, the minimum equals the number of shareholders. Arkansas and California require 3 directors unless there are fewer than 3 shareholders. In many states, one person can serve as the sole director and hold multiple officer positions.
Corporations must hold annual shareholder and director meetings, maintain corporate minutes and records, file annual or biennial reports with the state, and comply with state-specific tax obligations. Requirements and fees vary significantly by state — we help you understand exactly what is required in your jurisdiction.
Still have questions? We're happy to help.
Contact Us“Business Therapy & Advisory delivered a true five-star experience from start to finish. They handled my entire business formation and entity structure seamlessly, turning what could have been a complicated process into something clear, organized, and stress-free. We were referred by our accountant, and I couldn't be more grateful for that connection. The team made everything straightforward and efficient while still keeping things personable. They matched my sense of humor (which is no small task) while maintaining the right level of expertise and guidance, making the entire experience comfortable and collaborative. I fully plan to continue working with Business Therapy & Advisory for future needs and will confidently recommend their services to other business owners, as well as friends and family.”
Ian Harvey
Timeless Memorial Care, LLC
Back-office services, bookkeeping, and financial oversight
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