S corporations are named after Subchapter S of the IRS Code. They are creatures of federal tax law, so similar laws apply in all states although aspects vary. To file for S corp status in Tennessee, a business must meet certain requirements about ...

To close an S corporation, or S corp, there are a number of steps you must take to ensure that the corporation has settled its debts and will no longer be liable for taxes. Both the board of directors and the shareholders must agree to close the ...