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Small Business Startup Package for S-Corporation

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Small Business Startup Package for S-Corporation

© 2016 - U.S. Legal Forms, Inc.

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U.S. Legal Forms™ thanks you for your purchase of a Small Business Forms Combo Package for Sub-S Corporation. The package is designed to assist a S corporation in running a small business by providing a large selection of necessary and commonly used forms at a greatly reduced price. The forms provided are valuable tools to ensure the smooth operation of typical business affairs.

TABLE OF CONTENTS

I. Form List with descriptions

II. Descriptions of Forms

III. Legal Document Storage information

IV. Tips on Completing the Forms

V. Disclaimer

I. FORM LIST

Included in your package are the following forms. Plus a bonus set of an additional six important small business forms:

1. Profit and Loss Statement

2. General Trademark License Agreement

3. 2553-S Corp Election for Small Business

4. Investor Stock Purchase Agreement

5. Loan Form Corporation - Corporate Resolutions

6. Amendment to Bylaws

7. Drug Testing Policy Disclosure and Consent Form

8. Employee Permission to Do a Background Check

9. Employment Position Announcement

10. Job Invoice-Short

11. Employment Agreement - General

12. Employment Agreement with Covenant Not to Compete

13. Self-Employed Independent Contractor Employment Agreement

14. Secrecy, Nondisclosure and Confidentiality Agreement by Employee or Consultant to Owner

15. Internet Use Policy

16. Consultant Agreement

17. Employment Termination Agreement

18. Cash Disbursements and Receipts

19. Check Request

20. Daily Accounts Receivable

21. Yearly Expenses by Quarter

22. Petty Cash Form

23. Purchasing Cost Estimate

II. DESCRIPTIONS OF FORMS

Brief descriptions of the forms contained in your Small Business Forms Combo Package for Sub-S Corporation are found below.

Profit and Loss Statement - This is a general Statement of Profits and Losses for a company. It lists in detail, all profits, or gains, as well as all losses the business may have suffered. This form can be used by any type of company, whether a corporation or a sole proprietor.

2553-S Corp Election for Small Business – This form is used to be treated as a subchapter S corporation by the IRS.

General Trademark License Agreement - This form is a Trademark License Agreement. The licensor is the owner of certain trademarks and the licensee desires to use the trademark on the terms and conditions set forth in the agreement. The licensor agrees to grant to the licensee an exclusive worldwide right and license to use the trademark in connection with the licensee's product.

Investor Stock Purchase Agreement - This is a form authorizing the sale of stock to investors in a company. Detailed provisions cover the representations and warranties of both parties, as well as the specifics of the transaction.

Loan Form Corporation - Corporate Resolutions - This is a form with which a corporation may resolve to authorize an officer or representative to loan a specific amount of funds to another party.

Amendment to Bylaws - This is an Amendment to the Bylaws form, to be used across the United States. This is to be used as a model, and should be modified to fit one's own personal needs.

Drug Testing Policy Disclosure and Consent Form - This form explains the drug testing policies of a particular company and includes a consent form.

Employee Permission to Do a Background Check - This is a form signed by an employee or prospective employee granting an employer permission to do a background check.

Employment Position Announcement - This form is a business type form that is formatted to allow you to complete the form using Adobe Acrobat or Word. This form allows an employer to announce that applicants for a position with the company are being sought.

Job Invoice-Short - This form is a job invoice form. It contains provisions for a job description, starting date, completion date, date and hours worked, list of materials and costs, and an itemized statement of total due for materials, labor, and other.

Employment Agreement - General - This form is used when an Employee agrees to be employed by Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of Employer services as may be reasonably requested from time to time by the Employer. The agreement contains provisions for compensation, confidentiality, non-competition and breach of contract.

Employment Agreement with Covenant Not to Compete - This form is used when an Employee agrees to be employed by an Employer, and the Employer agrees to employ the Employee, for the purpose of performance by and on behalf of the Employer as may be reasonably requested from time to time by the Employer. This agreement contains a covenant not to compete clause.

Self-Employed Independent Contractor Employment Agreement – General - A company agrees to hire a contractor to perform work on the terms and conditions set forth in the agreement. The contractor agrees that all financial and accounting records will remain the confidential property of the company. The form also provides that the company will reimburse the contractor for all reasonable and necessary expenses incurred by the contractor with the performance of his/her duties.

Secrecy, Nondisclosure and Confidentiality Agreement by Employee or Consultant to Owner - The first party has possession of proprietary information and know-how relating to an idea, product or service, and wishes to employ the second party but desires that the second party agree not to disclose information learned by second party during such employment. Both parties agree that all information, ideas, products or services, processes, written material, samples, models and all other information of any type, whether written or oral, submitted to the second party by the first party is now, and will remain, the property of first party.

Internet Use Policy - This agreement is to be signed by an employee upon the request of a company concerning the proper uses of internet access. The agreement defines acceptable uses and states that the inappropriate use of the Internet may lead to denial of access or other action by the company.

Consultant Agreement - This form is a Consultant Agreement for use with consultants exposed to commercial trade secrets or other confidential information as part of their work with a business.

If you need additional information, please visit www.uslegalforms.com and look up forms by subject matter. You may also wish to visit our legal definitions page at http://definitions.uslegal.com/

III. LEGAL DOCUMENT STORAGE

Once you prepare legal documents and forms in your U.S. Legal Forms™ Essential Legal Life Documents Package, it is highly recommended that you keep forms together. An optional USLegal Life Documents Organizer – small or large size is available for purchase from www.uslegalforms.com to help store you legal documents.

Legal documents should also be kept in a very secure place such as a bank safe deposit box or personal home safe. You may wish to tell your attorney or a family member about the location of your Legal Life Documents Package in the event you are unable to communicate it to them when needed.

IV. TIPS ON COMPLETING THE FORMS

The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer.

They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand.

It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible.

By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner.

V. DISCLAIMER

These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer:

All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney.

THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

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What the Small Business Startup Package for S-Corporation Includes

Small Business Startup Package for S-Corporation is a standardized set of formation documents, filings, and administrative templates designed to help entrepreneurs incorporate, elect S-corporation tax status, and establish initial governance. Typical contents include Articles of Incorporation, corporate bylaws, initial director/officer consents, S-election (IRS Form 2553) instructions, stock issuance records, and an operating checklist for state filing and federal tax registration. The package clarifies signer authority, filing destinations, and supporting documentation needed to complete state incorporation and IRS S-election procedures efficiently.

Why a Consolidated S‑Corporation Package Matters

Combines required incorporation forms, federal tax-election guidance, and internal governance templates into a single set to reduce back-and-forth, clarify compliance steps, and speed time to active operations while reducing the risk of rejected filings or missed deadlines.

Why a Consolidated S‑Corporation Package Matters

Who Typically Prepares and Uses This Package

Typical users and teams that rely on this package include small business founders, startup attorneys, and in-house financial administrators preparing S-corp formation and tax elections.

  • Startup founders managing incorporation filings, S-election timing, initial capitalization, and early corporate governance setup.
  • Small business accountants and bookkeepers preparing tax forms, payroll setup, and initial reporting.
  • Law firms and registered agents drafting bylaws, minutes, and state filing documents for new entities.

Use this package as a coordinated set to standardize filings, allocate signing authority, and document the steps needed to maintain S-corp compliance.

Stepwise Process to Assemble and File the Package

Follow these steps to complete and assemble the S-corporation startup package for state filing and IRS S-election.

  • 01
    Prepare Articles: Draft and approve Articles of Incorporation per state requirements.
  • 02
    Adopt Bylaws: Create bylaws specifying officer roles, meeting schedules, and vote quorums.
  • 03
    Obtain EIN: Apply for an EIN online from the IRS for tax reporting.
  • 04
    File Form 2553: Complete IRS Form 2553 and obtain shareholder signatures before the deadline.

Common Questions About the S‑Corporation Startup Package

Answers to common questions about assembling, signing, and filing an S-corporation startup package in the United States.


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Security, Compliance, and Data Protections to Consider

Encryption: TLS 1.2/1.3 in transit; AES-256 at rest
Certifications: SOC 2 Type II, ISO 27001, PCI DSS
HIPAA: BAA required for PHI workflows
ESIGN / UETA: Compliant with ESIGN and UETA
Audit Trail: Complete timestamped audit logs kept
Access Controls: SSO, MFA, and role-based permissions

Key Penalties and Risks if Documents Are Incorrect

Late 1099 Penalty: $60–$330 per form
Intentional Disregard: $660+ per form, no cap
I-9 Violation: $281–$2,789 per violation
Incorrect EIN: Backup withholding 24%
Missing Notary: State filing rejection possible
Signer Mismatch: Bank account setup delays

Common Preparation Pitfalls to Avoid

  • Submitting Form 2553 after the IRS deadline without a reasonable cause statement can cause denial of S-election and retroactive tax treatment issues.
  • Using inconsistent business names or mismatched officer names between articles, EIN application, and bank account documents leads to processing delays and correspondence.
  • Failing to document stock issuance and ownership percentages creates disputes and complicates future investor transfers or buy-sell transactions.
  • Omitting a registered agent or providing an incorrect address can result in missed service of process, fines, or default judgments.

How the Digital Completion and Submission Flow Works

This section outlines the routing from form creation through signing to state and IRS submission.

  • Upload docs: Add Articles, bylaws, and supporting files.
  • Assign signers: Designate incorporator, directors, and officer signers.
  • Authenticate: Use email, SMS, or stronger methods.
  • Deliver copies: Send signed PDFs to state and tax keepers.

Recommended Digital Workflow Settings for the Package

Recommended workflow settings for digital completion, signer authentication, and submission routing for S-corp package here.

Workflow Field Name and Purpose Recommended configuration and rationale details
Signing Order and Routing Sequence Sequential signing to preserve record of approvals and order.
Authentication Method and Strength Email plus SMS OTP for moderate validation; use stronger methods for high-risk documents.
Field Types and Required Inputs Use signature, date, text, and attachment fields where appropriate.
Document Retention and Audit Log Settings Keep signed copies and audit logs for statutory retention periods.

Comparing eSignature Pricing and Core Features

Comparison of common eSignature pricing and core features relevant to completing and signing S-corporation startup packages.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day trial Verify with vendor Verify with vendor Verify with vendor Verify with vendor
Bulk Send Yes (premium) Verify with vendor Verify with vendor Verify with vendor Verify with vendor
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Platform Capabilities and File Support to Verify

Typical platform and file format requirements for completing and sharing S-corp formation documents electronically.

  • File Formats: PDF, DOCX, and fillable formats supported
  • Integrations: Salesforce, NetSuite, and Google Workspace supported
  • Authentication: Email, SMS, SSO, and advanced options

Real-World Examples of Using the Package

Short case examples illustrate how organizations apply a coordinated S-corporation startup package to formation, tax election, and initial operations.

Martin Properties

Martin Properties used a coordinated document package to form an S-corporation for property management and to sign initial leases and vendor agreements remotely.

  • Remote signing on mobile accelerated execution.
  • The founder reported that processing and executing documents online maintained compliance and security across devices while eliminating in-person meetings, saving time on notarizations and reducing turnaround for bank and vendor onboarding.

Optica Ventures LLC

Optica Ventures relied on packaged formation documents and signature workflows to onboard investors and issue initial shares securely.

  • Bulk routing and audit trails preserved approvals.
  • The streamlined process reduced back-and-forth with counsel and helped ensure capital contributions and stock records were documented and accessible for future due diligence.

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