Any corporation which wishes to file an s-corporation election has to fill a form with the heading “election by a small business corporation”. This form has to be signed by each and every member that holds a pertinent position in the business i.e. the shareholders, before it is approved by the proper authorities. The form is filed with the IRS service center in the same place where the company files its federal corporate tax income return.
Most states do not require the filing of the S-Corporation election after the federal election has taken place, with the exception of New York, Arkansas and New Jersey.