A series-connected transistor structure includes a first source, a first channel-drain structure, a second channel-drain structure, a gate dielectric layer, a gate, a first drain pad and a second drain pad. The first source is over a substrate. The first channel-drain structure is over the first source and includes a first channel and a first drain thereover. The second channel-drain structure is over the first source and substantially parallel to the first channel-drain structure and includes a second channel and a second drain thereover. The gate dielectric layer surrounds the first channel and the second channel. The gate surrounds the gate dielectric layer. The first drain pad is over and in contact with the first drain. The second drain pad is over and in contact with the second drain, in which the first drain pad and the second drain pad are separated from each other.