Federal Form 2553 is just the starting point. Some states require a separate election. Some charge a minimum franchise tax. Some have no income tax at all. Find your state and see exactly what's required.
No state income tax. No separate state election required. Federal Form 2553 is the only election filing — but you'll need to register with the Texas Comptroller once payroll starts.
Two separate elections required (federal + CA Form 3560). The $800 minimum franchise tax applies every year, regardless of income. Still worth it for most profitable businesses — but the math matters.
No state income tax, no separate state election. Federal Form 2553 is all it takes. Florida is one of the easiest states in the country for S-Corp conversion — every dollar saved goes straight to you.
NY Form CT-6 required as a separate state election. NYC-based businesses face a third layer: the NYC General Corporation Tax at 8.85% on NYC-allocated income. High income tax rates mean large federal savings offset the complexity.
Illinois automatically conforms to the federal election — no Form 3560 equivalent. The flat 4.95% state tax and 1.5% replacement tax are predictable and easy to model. Straightforward savings for most profitable Illinois businesses.
Don't see your state? Every package includes a state-specific compliance checklist tailored to where your business is registered.