USA Incorporating

[KinneyAssociatesLLC]

I have set up an LLC. I went to a CPA to discuss chapter S & C. I was told -

• I had to remain an LLC for one year before going to chapter S.
• After that first year, I had to incorporate as a chapter C for one year before transitioning to a chapter S.

Would you be confident in trusting your company and families finances to this CPA?

 

[kirby]

Hi
From the material I posted in reply to your previous post, it is clear there was no "one year requirement".
In case the law somehow changed very very recently, you can ask your current CPA for a copy of the law specifying the one year requirement.
If CPA cannot produce that, drop this bozo and get recommendations from business associates to help find a qualified person.

 

[bklynboy]

I am also not aware of any waiting period. I have set up both and switched between them and never had any issues. Note being a CPA does not make you an expert in tax law so make sure he has the right background and can explain/show you where this requirement exists.