Adding partner to S Corporation
Asked by: Sebastian - 2 June, 2011
I own a S Corportaion in New York. I want to add a partner. What steps must I take to accomplish this?
I own a S Corportaion in New York. I want to add a partner. What steps must I take to accomplish this?
Answered by: Ray Albert - 4 June, 2011
Sebastian,
I hope this answer offers you some assistance to your needs.
Sebastian,
With corporations in New York when you add or remove shareholders you would only need to amend your current bylaws. If its an S-Corporation you would also need to submit a new form 2553 ("S-Corporation Election") to the IRS.
Unless your Articles of Incorporation specifically list shareholders there is no need to file Articles of Amendment with the state.
I hope this answer offers you some assistance to your needs.
