Chris J.

Outside Counsel
Member Since: August 22, 2021
Irvine, CA

Chris J. is now available for hire

Request a proposal from Chris.

Hourly Rate: $300

Flat fee quotes available

Get Proposals

Summary info

Hourly Rate
State License
Years Practicing
Client Feedback
Legal Answers
Project Preferences

Client Feedback

0 Feedback Items Collected

Please sign in or create a free account to view detailed lawyer feedback
1 Question Answered / 1 Recent Answer
July 21, 2023
A: Hi: Generally speaking, you have several options (many of which you've identified). 1. You can revoke S-Corp status (if you have a corporation and want C-Corp status). However, revocation won't be effective until the 2024 tax year. With that said, sometimes people inadvertently revoke S-Corp status by taking certain actions (which we can discuss). 2. You can create a new entity and structure it in the way you want (corporation, LLC, partnership, etc.). Then, you can wind down the S-Corp. 3. You can merge your existing S-Corp into an entity and have that entity survive and your S-Corp "merge out" and disappear. The approach that makes the most sense depends upon your business, the assets held by your S-Corp, and your objectives. Best regards, Chris Jackson