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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.


See subchapter S-corporation.

References in periodicals archive ?
Both LLC and S-corporation protect your personal assets because you are considered separate from your business entity.
an S-Corporation for owner-operator real estate entities.
Some businesses, like S-corporations, sole proprietorships, or partnerships, file their taxes through the individual tax code.
S-Corporations will be of interest to the hands-on person intent on saving money and who has the time, ability, and interest to acquire the knowledge which will allow them to proceed safely without an attorney.
They really get whacked by the S-corporation classification," Funk said.
These days, the S-corporation is rarely the business entity of choice among newly independent advisors," adds Jim Underwood, a certified financial planner and managing partner of Tarpley & Underwood Financial Advisors LLC, Atlanta, Ga.
Attorney-at-law Daniel Sitarz presents the newly updated fourth edition of S-Corporation Small Business Start-up Kit, an easy-to-use guide to beginning an American business as an S-Corporation, and now in a completely updated fourth edition, S-Corporation Small Business Start-up Kit is valid in all fifty states and Washington D.
in Eugene, said he hasn't added up the tax hit for his businesses, which includes a C-corporation, an S-corporation and limited liability companies.
The notice and consent rules apply if a corporation, S-corporation, partnership or LLC purchases life insurance on one of its employees to cover business losses if the employee dies.
The subject company is a Florida S-Corporation and is engaged in providing pre-press graphics service to publishing companies.
Is the sole shareholder of an S-Corporation subject to federal self-employment tax if the person characterizes the income as an S-Corp distribution (that generally is not subject to employment taxation)?
85 times the number of S-corporation shareholders times the number of months the failure continues (to a maximum of 12 months)