New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.


Who can work for an S Corp?

Asked by: Hari  — 13 March, 2011

I am on Work Permit (EAD – Employment Authorization Document with an SSN) Can I start an S-Corporation?

Answered by: admin  — 13 March, 2011

Dear Hari,

Unfortunately, as we explain in detail in our article regarding S-Corporations, only a U.S. citizen or a permanent resident can be a shareholder (owner) of a subchapter S corporation. However, please consider forming an LLC, as there are no residency or citizenship restrictions there. Moreover, an LLC offers you much the same benefits as an S-corporation would while requiring much less efforts to maintain. Take a look at our comparison of LLC and S-corporation to learn more.

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