S Corp Eligibility: S Corporation Advantages and Disadvantages

For many corporations, the most important tax decision hinges on whether or not to elect to be treated under the provisions of sub-chapter S of the Internal Revenue Code. The choice concerning S-Corporations (S-Corp. status is often a complex one that is fraught with significant tax implications. As with many tax decisions, there are both potential advantages and disadvantages in choosing to be treated as an S-Corp. Some of these factors are general in nature, while other are somewhat unique to government contractors. In determining whether to elect S-Corp status, these advantages and disadvantages must be carefully analyzed and weighed based on a company's specific situation.

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