Filing for an S Corp or C Corp election is less about “How long?” and more about “Do I meet the requirements?” If filed correctly, you can convert your LLC to an S Corp or C Corp within the same tax year. Technically, you have two months and fifteen days from the first day of the LLC’s tax year to request S-Corporation status. The IRS does offer relief for late elections. A statement must be made expressingas to why the election is being filed late. To answer your question regarding time, if filed correctly, under most circumstances you can anticipate a response from the IRS within 60 days of the filing.
With regards to cost, there is no cost for filing for the elections. However, the IRS posted a recent survey showing the average costs of having a professional prepare an income tax return (Form 1120S) for a corporation to be approximately $761 for an S Corp and $806 for a C Corp. These costs may be higher than you have traditionally paid for the preparation of an LLC’s tax return.
Understanding the tax landscape, and when to file an S or C Corp election can be complex. More information regarding Corporation filings can be foundand . And for assistance regarding these matters and more, visit and for digestible information and practical tools.