I recently registered a S corp in CA. At this time I do not have any transaction. Income is 0, hoever I have made some expenses with my Biz account for small items like computer, desk etc.
From what I understand, a S corp has to maintain Minutes and pay some salary, at least to myself, to maintain the S corp status. I don't expect earning anything from my Business atleast for another 6-8 months. At this time I'm (Only me) mainly working on a software product.
Any suggestion how can I do maintain all the minimal requirements to maintain the S corp status, with low/zero expenses ? :)
Also, I registered the Business in Feb-2012, but so far I haven't filed any tax such as IRS form 941 etc, will I be in trouble ?