S-Corp question

[Aplus]

S-Corp question

I recently formed a corporation and received my tax ID number from the IRS (I selected corporation in my filing and not s-Corp since we haven’t elected s-corp yet). Can I use this number to create a bank account and make some purchases before I elect S corp status? Will this be an issue at the end of the year? We do not expect to generate any profits on year one while we build out our idea. I plan on electing for an s corp in the next two weeks, but one piece of equipment is critical and needs to be purchased ASAP.

submitted by /u/zacdor
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