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Starting and growing a business is hard enough without incurring the double taxation of a "C" corporation. Those forming an "S" corporation are taxed only once -- at the personal income tax rate. This completely updated reference offers step-by-step instructions and forms to save money and protect personal assets by forming an "S" corporation.It explains in detail how to apply for "S" corporation status for either a new or existing small business. It includes all the forms needed along with easy-to-use instructions and sample year-end tax documents for an "S" corporation."S" corporation benefits include these lucrative, money-saving opportunities: -- avoid corporate tax-- find a personal tax shelter-- own "S" corporation investments-- sell property tax-free to an "S" corporationAll new and updated information includes: details on the recent Small Business Job Protection Act, state requirements for "S" corporation eligibility, as well as detailed pros and cons of "S" corporations versus limited liability companies (LLCs).