MAINTAIN S-CORP STATUS?

I am reviewing an opportunity that is an s-corp and trying to project out taxes under new ownership. If I am not bringing outside investors into the deal, and existing ownership would remain at the common equity level only - should I just assume that maintaining s-corp status and only being taxed (at ordinary income tax levels) for any distributions I make (either to myself or other common holders) is the best path forward? In other words, besides having the ability to have preferred shareholders what other advantages does c-corp status allow me? The obvious disadvantage is the double taxation ...



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