Home Blog Lawyer for S Corp

Lawyer for S Corp

This page explains what a lawyer for an S corp does, key services they provide, and how ContractsCounsel can help you find one.

Jump to Section

Quick Facts — S Corp Lawyers

A lawyer for S Corp is a legal professional responsible for advising S Corps on legal and financial aspects in relation to taxation, liability, and compliance. If you are a small business owner, you must be actively looking for two things: reducing taxes and protecting assets. While planning on incorporation and not going public simultaneously, the thought of an S corp must have crossed your mind. An S Corp is a unique corporation with certain tax and liability advantages. But, it comes along with its own set of complications. Tax professionals and accountants can also help you navigate taxation matters. Read on to understand more.

Who Can Get an S Corp?

Are you planning on having an S Corp for your business? If yes, you must meet these requirements laid out by the US government's Internal Revenue System (IRS).

  • The corporation must be domestic in nature.
  • It cannot cross the threshold of a hundred shareholders.
  • Only one class of stock can exist.
  • When it comes to investment, only eligible shareholders can be a part of it.

S Corp Benefits

Before taking up any type of corp for your valuable company, you must weigh the pros and cons. Here are the benefits of an S Corp-

  • Savings Taxes

    To prevent double taxation, in S Corp, the income is not taxed at the corporate level. The income is allocated to the shareholders based on their ownership percentage. Shareholders who are also employees must receive reasonable compensation for the services they provide and this income is subject to payroll taxes. Any remaining profits can be distributed to shareholders as dividends, which are taxed at a lower rate than ordinary income.

  • A Separate Entity from Shareholders

    In the case of an S Corp, the company is a separate legal entity. The actions of the shareholders can still impact the company, especially if there are disputes or legal issues involving shareholders.

  • Reduces Liability

    S Corps help in reducing liability and increasing the protection of the company. Since the company is a separate legal entity, your financial liability is reduced.

  • Ownership Transfers are Easy.

    In the case of an S Corp structure, shareholders can easily transfer their ownership without disturbing the company's status. However, there may be restrictions and limitations, such as restrictions in the company’s shareholder agreement or state laws.

  • Growth Opportunities

    Long-term growth opportunities depend on market conditions, competition, and business strategies.

Meet some lawyers on our platform

Dolan W.

886 projects on CC
CC verified
View Profile

Alton H.

32 projects on CC
CC verified
View Profile

Stephen R.

15 projects on CC
CC verified
View Profile

Caroline N.

1 project on CC
CC verified
View Profile

Why Hire a Lawyer for S Corp

There are many types of corps that you can sign your company in. However, it is important for you to understand the difference between each and establish which one is the best for you and your company. Getting a lawyer will help you get clarity on which corp is suitable for your company. They help you analyze your needs and requirements and suggest you choose a corp accordingly. Further, a lawyer will also help you understand the tax benefits that S Corp brings along to the table. They shall help you understand how to file taxes to save the maximum money. For more information on corporation taxes, consult with a tax professional or an accountant.

A lawyer will help you draft your paperwork to file for an S Corp. They help you understand the legality of several matters. In case you are ever stuck in a legal settlement or court dispute, they shall help you fight in court and support your stand.

Key Terms

  • Shareholder Agreement: A shareholder is a person who owns shares of a company and is registered as a corp. An agreement is signed between the shareholders and the S Corp companies, which is known as the S Corp shareholder agreement.
  • Shareholders: Shareholders are people who own shares, that is, small parts of the company, that are listed in the market.

Conclusion

While running a business, we take all the necessary care and precaution and take extreme measures to safeguard it. Taking care of finances and taxes is just a part of securing the company’s interest. You must get expert help and guidance from the lawyers at ContractsCounsel to help you save money on taxes and also protect yourself from personal liability by turning to S Corp.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need to form an S Corporation?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,281 reviews

Meet some of our Lawyers

Michael M. on ContractsCounsel
View Michael
4.9 (332)
Member Since:
September 10, 2022

Michael M.

Principal
Free Consultation
Los Angeles, California
39 Yrs Experience
Licensed in CA
NYU

www.linkedin/in/michaelbmiller I am an experienced contracts professional having practiced nearly 3 decades in the areas of corporate, mergers and acquisitions, technology, start-up, intellectual property, real estate, employment law as well as informal dispute resolution. I enjoy providing a cost effective, high quality, timely solution with patience and empathy regarding client needs. I graduated from NYU Law School and attended Rutgers College and the London School of Economics as an undergraduate. I have worked at top Wall Street firms, top regional firms and have long term experience in my own practice. I would welcome the opportunity to be of service to you as a trusted fiduciary. In 2022 and 2023, I was the top ranked attorney on the Contract Counsel site based upon number of clients, quality of work and number of 5 Star reviews.

Recent  ContractsCounsel Client  Review:
5.0

"Working with Michael has been fantastic. You'll be hard-pressed to find someone more knowledgeable and honest than him!"

Bryan B. on ContractsCounsel
View Bryan
4.9 (175)
Member Since:
October 1, 2020

Bryan B.

Lawyer
Free Consultation
Austin, TX
10 Yrs Experience
Licensed in TX
Penn State Law

Experienced attorney and tax analyst with a history of working in the government and private industry. Skilled in Public Speaking, Contract Law, Corporate Governance, and Contract Negotiation. Strong professional graduate from Penn State Law.

Recent  ContractsCounsel Client  Review:
5.0

"Positive experience working with Bryan. Great communication. He delivered exactly what he promised within the time frame he said he would. I really appreciate his help and would recommend him without hesitation."

George L. on ContractsCounsel
View George
5.0 (6)
Member Since:
August 16, 2022

George L.

Owner
Free Consultation
Rock Hill, SC
7 Yrs Experience
Licensed in GA, SC
University of Georgia School of Law

I am a corporate attorney with offices in Rock Hill, SC, and Lavonia, GA. My practice is focused on contracts, tax, and asset protection planning. I act as a fractional outside general counsel to over 20 businesses in 6 countries. When not practicing law, I can usually be found training my bird dogs.

Recent  ContractsCounsel Client  Review:
5.0

"George was absolutely amazing!!! Great explanation of what I needed to do for him to help me with my articles of incorporation!!! I highly recommend him and would definitely use his services again if needed!!! Absolutely excellent!!! Thank you so much George!"

Craig Y. on ContractsCounsel
View Craig
5.0 (3)
Member Since:
February 8, 2022

Craig Y.

Partner
Free Consultation
New York
30 Yrs Experience
Licensed in NY
New England Law - Boston

Craig E. Yaris is a Founding Partner at Holon Law Partners, with the experience and drive to handle all your Franchise, General Business Practice, Estate Planning and Mediation needs. As a former small business owner and Chief Operating Officer of a franchisor himself, Mr. Yaris is passionate about promoting business growth. He has experience handling daily operations, employee disputes, and negotiations of pertinent contracts for a franchise company with 100 locations in five states, where he organized and conducted semi- annual meetings to educate and inform franchisees of best practices for improved growth. In addition, Mr. Yaris was responsible for the preparation and filing of the UFOC (Uniform Franchise Offering Circular) in several states and is well-versed in business formation. Between his time as Franchisor and Conflict Resolution Specialist, Mr. Yaris was the Co-Founder and Chief Operating Officer of an online company whose goal was to help inform marketers and business owners of the fast-paced and ongoing changes within their specific verticals. This experience helped him hone his research and writing skills and prepared him for the cloud-based aspects of Holon Law Partners. Mr. Yaris also has extensive experience in public speaking, as he has planned and delivered several keynote addresses and educational seminars for many New York-based organizations, and as a Continuing Education Instructor for Hofstra University. Prior to joining Parlatore Law Group, Mr. Yaris worked as a Patient Advocate, and more recently, a Conflict Resolution Specialist, where he mediated and resolved disputes on behalf of patients with insurance companies. In this role, he negotiated for coverage of previously denied medications and medical procedures as well as successfully mediated disputes between individuals and business partners which would have otherwise resulted in protracted litigation. In addition, he has experience mediating employer and employee disputes as well as helping resolve family conflict. He has also studied and attended many Non-Violent Communication (NVC) workshops and strives to bring these tools and methods to all of his mediations. His variety of experiences speak to his ability to handle small business needs at all stages of business growth and development. Mr. Yaris also has experience with business growth and development, as he has worked with several small business on creating and implementing strategies for steady growth. In addition, to spending time with family, Mr. Yaris volunteers his time helping spread the message of the ACLU and he supports many local charities focused on families and children. He is admitted to practice in New York.

Recent  ContractsCounsel Client  Review:
5.0

"Craig was delightful to work with. He explained everything in detail, answered any questions I had and made sure I was comfortable with the information. Highly recommend."

Tom L. on ContractsCounsel
View Tom
Member Since:
February 7, 2022

Tom L.

Managing Member
Free Consultation
Houston
19 Yrs Experience
Licensed in TX
Louisiana State University Law Center

Tom is a former chief legal officer of public and private companies. He has extensive experience in mergers & acquisitions, commercial transactions, joint ventures, finance, securities laws and general corporate law across a broad range of industries, including construction, consumer products, e-commerce, energy and healthcare. As an attorney who practiced at two different Top 50 international law firms, he can deliver "Big Law" service at a competitive price. Prior to becoming a lawyer, Tom served as an officer in the U.S. Army and attained the rank of Captain. He served a tour in Iraq where he led a reconnaissance platoon and was awarded the Bronze Star Medal.

Amy P. on ContractsCounsel
View Amy
Member Since:
February 9, 2022

Amy P.

Principal Attorney
Free Consultation
Edmonds, WA
22 Yrs Experience
Licensed in WA
The University of Montana School of Law

Amy has served as outside general counsel and litigator to established businesses throughout western Washington since 2010. Her passion and focus is providing the best possible representation for clients in the construction, transportation and hospitality industries.

Jacob O. on ContractsCounsel
View Jacob
Member Since:
February 14, 2022

Jacob O.

Contracts Manager
Free Consultation
Iowa City
6 Yrs Experience
Licensed in MO
University of Iowa - Law

I am bar certified in the lovely state of Missouri. I received my J.D. from The University of Iowa College of Law (2019) and my B.A. in Political Science from BYU-Idaho (2015).

Find the best lawyer for your project

Browse Lawyers Now

See Real S-Corp Formation Projects

Florida Corporate filings Prepare & File
  • Florida
  • 4 lawyer bids
  • $750 - $3,400
View Details
Pennsylvania Create S Corp Prepare & File
  • Pennsylvania
  • 7 lawyer bids
  • $450 - $3,000
View Details
California Liability Waiver for a kayak rental and tour company Prepare & File
  • California
  • 6 lawyer bids
  • $250 - $750
View Details
Washington I have a SCorp registered in the state of Washington and wanted to move it to Texas Prepare & File
  • Washington
  • 5 lawyer bids
  • $495 - $3,499
View Details
Illinois Form an S Corporation Prepare & File
  • Illinois
  • 7 lawyer bids
  • $365 - $1,995
View Details
California Set up an S Corp Prepare & File
  • California
  • 9 lawyer bids
  • $299 - $3,310
View Details

See all S-Corp Formation projects

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need to form an S Corporation?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,281 reviews
CONTRACT LAWYERS BY TOP CITIES
See All Corporate Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need to form an S Corporation?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 19,281 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city