The quickest way to apply is through your TUportal account or through Templeâs online application or via the Common Application. Applying costs $55 unless you qualify for a fee waiver (freshmen only).
The Advantages of S Corp. An S corporation is a unique corporate entity created by the rules of the Internal Revenue Code. Operating as an S corporation gives owners of the company legal and taxation benefits.ince an S corporation has a life separate from the owners of the business, the death or retirement of a shareholder will not stop an S corporation from continuing its operations. Other business entities such as a sole proprietorship end automatically if a business owner dies or decides to retire.
Businesses that can become an S corporation are limited to corporations and entities that can choose to be taxed as corporations, such as limited liability companies. An S-Corp is a business with a special tax status that allows its shareholders to include the business' profits and losses on their personal returns.tep 6. Close S-Corp accounts in your companyâs accounting system. The key S-Corp account that needs to be closed is the Accumulate Adjustments Account, which is a measure of income that has not been distributed to shareholders but the shareholders have already paid tax on.