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While the notice included about 40 different returns, elections, and other documents that now could be signed electronically (that historically could not), notably absent from the list were Forms 2553 and 8869the S election and QSub election forms.
The S corporation is the only business tax status that lets you save on Social Security and Medicare taxes while avoiding double taxation. An LLC taxed as an S corp offers the benefits of a corporation while also providing flexibility on income treatment.
How to Convert Your LLC Into an S Corp in California Draft a set of corporate bylaws (you can use the bylaws from your original LLC Operating Agreement if theyre applicable). Elect corporate officers and appoint corporate directors. Issue stock certificates. Conduct your initial board meeting.
IRS Revenue Procedure 2013-30, effective September 3, 2013, allows an entity to get relief and elect S Corp status within 3 years and 75 days from the date the election was originally intended to be effective.
You need to file Form 2553, Election by a Small Business Corporation to be treated as an S corporation by the IRS. You may file the form online, but only from the ElectSCorp website. If you would prefer to file it offline, these instructions may be helpful.
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First, an LLC would need to elect to be taxed as a corporation by filing Form 8832, Entity Classification Election. After that, an LLC can then file a Form 2553, Election by a Small Business Corporation, to elect tax treatment as an S corporation.
However, if a qualifying LLC elected to be an S Corporation, it should file a Form 1120-S, U.S. Income Tax Return for an S Corporation and S corporation laws apply to the LLC. Each owner reports their pro-rata share of corporate income, credits and deductions on Schedule K-1 (Form 1120-S)PDF.
This form must be signed by an authorized corporate officer and must include all the necessary shareholders consents (Reg. 1.1362-6(a)(2)). Shareholder consents can be made either on Form 2553 or on a separate statement accompanying Form 2553 (see Explanation: 1362, Shareholder Consents to S Corporation Elections).

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