S Corporation

(redirected from S-Corps)
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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 ?
2343 would pay for the interest rate extension by ending an exemption that allows high-income earners who run S-Corps to shield some of their income from payroll taxes.
Because S-Corps, C-Corps, LLCs and S-elected LLCs provide the same asset protection, provided owners are compliant with all necessary requirements.
Unlike generally larger Subchapter C-corporations (C-corps), S-corps do not pay a corporate level income tax, and for tax purposes, business income is passed directly through to business owners.
Comparison of cooperatives with other contemporary business models (limited liability corporations and partnerships, S-Corps.
Premiums for long term care insurance are deductible for S-corps and C-corps.
The North Track Plan4One solution works with any type of owner-only business, including partnerships, S-corps, and C-corps with a 401(k) solution for company owners and their spouses.
Butler lists his clients as "individuals, C-corps, S-corps.
Within the tax area, engagements for individuals account for 59% of total tax claims, while those for C-Corps and S-Corps account for 25% and 12%, respectively.