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Filing fees range from approximately $300 to $900, and legal fees range from approximately $1,000 to $4,000, depending upon the extent of the documentation. There may also be some accounting fees ($500 to $1,500) relative to the S corporation election and other accounting issues.
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. Unless an S-Corp election is made when a business incorporates a cooperation is automatically a regular corporation (C Corp.).In order to elect treatment as an S-Corp., there are certain eligibility requirements which much be met. (Please refer to table on page 3 for requirements).nless an S-Corp election is made when a business incorporates a cooperation is automatically a regular corporation (C Corp.). In order to elect treatment as an S-Corp., there are certain eligibility requirements which much be met. (Please refer to table on page 3 for requirements).