S Corporation

(redirected from S-Corporations)
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S Corporation

A corporation that elects not to be taxed as a corporation. That is, the corporation does not directly pay federal income tax on its earnings. Similar to a partnership, it passes its income or losses and other tax items on to its shareholders.

S Corporation

A business with few shareholders that is exempt from some taxes levied on other corporations. Specifically, an S corporation is not responsible for taxes on its profits (corporate taxes) and is taxed as if it were a partnership. However, it may have no more than 100 shareholders. An S corporate structure allows a company to take advantage of some of the benefits of incorporation without all of the responsibilities attached to it.
References in periodicals archive ?
His areas of expertise include Corporations, S-Corporations, Limited Liability Companies, Partnership, Individual, Trusts and Estates taxation.
She consulted on individual, S-Corporations and partnership tax planning and prepared federal and multi-state tax returns, including amended returns, for individuals, corporations, S-Corporations, partnerships and trusts.
He focuses his practice in the area of taxation, offering particular knowledge in matters affecting partnerships, limited liability companies, S-corporations, real estate, and tax controversy.
In April 2013, FEI's CPC-P was invited to meet eight congressional offices that made up a subcommittee on S-corporations and how they should be treated during tax reform.
It is in use by Commercial Stock Transfer Agents and Self Issuers, including S-Corporations, across the U.
He explained that most agencies and brokerages are small businesses, organized as pass-through entities such as S-Corporations, Partnerships and Sole Proprietorships, meaning that they pay taxes at individual rates.
Many of America's small businesses file their taxes as LLCs, partnerships, S-corporations or sole proprietorships.
Entities, such as Limited Liability Companies and S-Corporations, will become subject to the reporting requirements with the filing of their 2012 returns.
The Small Business Jobs Act doubles the tax deduction for start-up companies (from $5,000 to $10,000), allows many small businesses to carry back their general business credits to offset five years of taxes, and changes the law to reduce taxes for C-corporations that became S-corporations.
They say the tax will hurt small businesses classified as S-corporations.
Taxpayers who are in partnerships, limited liability companies (LLCs), or S-Corporations generally don't get to use NOL--their losses are generally claimed as business losses subject to the passive activity rules.
Most Oregon businesses - partnerships, S-corporations where income passes through to owners, and most limited liability corporations - would continue to pay the minimum, resulting in a net tax increase of $140.