Hello.
The IRS will notify you if your S-Corporation election is approved or
disapproved.
From Form 2553 instructions:
"The service center will notify the corporation if its election is
accepted and when it will take effect. The corporation will also be
notified if its election is not accepted. The corporation should
generally receive a determination on its election within 60 days after
it has filed Form 2553. If box Q1 in Part II is checked on page 2, the
corporation will receive a ruling letter from the IRS in Washington,
DC, that either approves or denies the selected tax year. When box Q1
is checked, it will generally take an additional 90 days for the Form
2553 to be accepted. Care should be exercised to ensure that the IRS
receives the election. If the corporation is not notified of
acceptance or nonacceptance of its election within 3 months of the
date of filing (date mailed), or within 6 months if box Q1 is checked,
take follow-up action by corresponding with the service center where
the corporation filed the election."
source: IRS Instructions for Form 2553
http://www.irs.gov/pub/irs-pdf/i2553.pdf
[ Note that this document is in PDF format, so the Adobe Acrobat
Reader is required. If you don't have that, please visit Adobe's web
site:
http://www.adobe.com/products/acrobat/readstep2.html ]
As indicated, if you haven't heard from the IRS in 3 months (or 6
months if you checked box Q1), then you'll need to write or fax to the
Cincinnati Service Center:
Internal Revenue Service Center
Cincinnati, OH 45999
Fax (859) 669-5748
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Similarly, in New York will notify you if your application is
approved. Unless and until you're notified, don't file any "S"
returns. If you don't hear from them before your next return is due,
write to them at the address provided below.
From Instructions for Form CT-6 Election by a Federal S Corporation to
be Treated As a New York S Corporation:
"Approval of election
You will be notified whether your election is approved, and if
approved, the date the election will take effect. Until then, do not
file Form CT-3-S, CT-4-S, CT-32-S, or CT-3-S-A. If you are now
required to file Form CT-3, CT-4, or CT-32, continue filing it until
your election takes effect.
If you do not receive confirmation of your election before yourreturn
is due, you should write to:
NYS Tax Department
Corporation Tax Registration
Building 8, WA Harriman Campus
Albany NY 12227. "
http://www.tax.state.ny.us/pdf/2002/corp/ct6i_502.pdf
[ This document is also in PDF format. Again, the Adobe Acrobat
Reader is required. If you don't have that, visit Adobe's web site:
http://www.adobe.com/products/acrobat/readstep2.html ]
Also, note that you once you receive your federal approval, you are
required to forward a copy to New York. From the New York
instructions:
"Who may elect
To elect to treat the corporation as a New York S corporation, you
must meet the following requirements:
The corporation must be a federal S corporation. If your federal
election is pending, file your New York election and indicate that
your federal election is pending. When you receive federal approval,
forward a copy to the Tax Department at the address listed under Where
to file on the back of these instructions."
http://www.tax.state.ny.us/pdf/2002/corp/ct6i_502.pdf
The address is:
NYS Tax Department
Corporation Tax Registration
Building 8, WA Harriman Campus
Albany NY 12227
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I hope this helps. |
