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    mikemleo's Avatar
    mikemleo Posts: 7, Reputation: 1
    New Member
    		  
    #1

    Jan 2, 2008, 02:08 PM
    Need to open an S-Corp
    Hi All,

    I need to open an S-Corp. I am on an EAD (resident alien) and waiting for my Green Card to become permanent resident. Just wanted to know what is the criteria for the shareholders of an S-Corp. I am getting conflicting answers which says that only US-Citizens can open and be the shareholders of an S-Corp. Is this correct?

    More information on the process of opening an S-Corp will be welcomed. I want to incorporate the company in state of Texas

    Thanks
    --Mike
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 3, 2008, 08:22 AM
    In my opinion, that is NOT correct.

    The S-corporation option IS available to resident aliens on H-1B visas as long as they do NOT work for the corporation. This, however, is REALLY a LEGAL question that should be posted on the LAW forum.

    Contact the Texas Department of State about the incorporation process.
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