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.
A domestically owned corporation with no more than 75 owners who have all elected to pay taxes under Subchapter S of the Internal Revenue Code. S corporations are treated like partnerships. That is, they are exempt from the corporate income tax, but the owners pay income taxes on all of the firm's income, even if some of the earnings are retained by the firm.
(USA) A small business corporation permitted to be... Add a comment
A business that is organized as a corporation under state law that elects to be taxed as a partnership under the Internal Revenue Code.
A corporation that has decided to take advantage of certain IRS regulations so that it can be taxed the same way as a partnership.
A small corporation which, under Subchapter S of the Internal Revenue Code, elects to be taxed as a proprietorship or a partnership yet retains limited liability and other benefits of the corporate form of organization.
A corporation whose shareholders have elected to be taxed like a partnership, with profits and losses passing through directly to the shareholders, rather than to the corporation.
(Subchapter S corporation) A tax classification for a corporation making it a pass-through tax entity and allowing it to avoid double taxation. A corporation may obtain this designation by satisfying certain requirements and filling proper paperwork with the IRS. To learn more about "S" corporations, click here.
a business that is taxed under Subchapter S of the Internal Revenue Code; enables the shareholders to be taxed similarly to partners in a partnership
A special type of corporation that is not taxed at the entity level, but is instead treated similarly to a partnership for tax purposes, as long as various requirements are met.
a 'C' Corporation that "elects" to be an 'S' Corporation
a company that forms as a C corporation and then chooses special tax status that makes it a "pass-through" entity, like an LLC
a "conduit" for tax purposes
a corporation for which an election has been made with the Internal Revenue Service for the income to pass through and be taxed directly to the stockholders on a pro-rata basis
a corporation, partnership or limited liability
a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code and receives IRS approval of its
a corporation that has elected to be taxed as a flow though entity (similar to an LLC or LP)
a corporation that has elected to have the corporation's income pass through to the
a corporation that is allowed to pass its income to the shareholders
a corporation that is taxed under Subchapter S of
a corporation which has elected for its profits to be taxed in the manner of an unincorporated entity
a corporation which is taxed under Subchapter S of the Internal Revenue Code and must elect to do so shortly after the corporation is formed with the IRS
a corporation which, under the Internal Revenue Code, is generally not subject to federal income taxes
a corporation whose shareholders have elected to be treated as such by the Internal Revenue Service
a creature of the federal tax laws
a domestic corporation that has filed a special tax election with the Internal Revenue Service to be tax under "Subchapter S" of the income tax laws
a financial institution for Massachusetts tax purposes if it meets the definition of financial institution as set forth in G
a general corporation (C corporation) that has elected a special tax designation by the IRS
a legal corporation that is afforded special tax treatment under Subchapter S of the Internal Revenue Code
a legal entity (corporation) that has elected,
an ordinary business formed and operated under a state s general corporation
a particular standard corporation this has elected a particular particular tax condition with the Internal Revenue Service (IRS)
a pass through entity for tax purposes
a regular corporation that has elected
a regular corporation that has filed an election with the Internal Revenue Service to be taxed as a partnership
a regular corporation which has essentially elected to be treated somewhat like a partnership for federal income tax purposes
a shareholder-owned corporation that receives certain benefits unavailable to other corporations
a special tax designation that is available to corporations which have already been formed under the laws of a particular state
a standard Vermont corporation that is subject to subchapter S of the federal corporate income tax law
a taxation election you can choose when you incorporate
A form of corporation in which all taxes of the corporation flow through to the tax returns of the shareholders. Like shareholders of public corporations, the shareholders of an S corporation are not responsible for the liabilities of the corporation.
A corporation whose shareholders have elected not to be taxed as a regular (or "C") corporation, but like a partnership. Profits and losses pass through directly to the shareholders rather than being taxed at the corporate level.
A small, closely held corporation (75 or fewer investors) who elect to be taxed as a partnership where shareholders pay taxes on all earnings. This avoids double taxation of corporate income and dividend income that occurs in corporations.
An S corporation functions similarly to a C corporation. It is called an S corporation because it is regulated by subchapter S of the Internal Revenue Code. It provides for the limited liability advantages of a regular corporation, but with the advantages of pass-through taxation. It is typically a closely held corporation. There are limits on what corporation can qualify as an S Corporation.
An S Corporation is simply a C Corporation (also known as a standard business corporation) that files IRS form 2553 to elect a special tax status with the IRS. The same filing procedure is used for both types of businesses within the State. However, an S-Corporation must file an additional tax form that will give the S-corporation a special tax status with the IRS. This special tax status enables S-corporations to avoid paying corporate income tax. C-corporations must pay corporate income tax.
A corporation that meets the requirements to make the S Corporation election and whose shareholders have consented to do so. In general, an S Corporation does not pay income tax, but rather passes through to its shareholders its income and deductions. Only small business corporations may become S Corporations, and their shareholders, which are limited in number to 75, must be individuals, estates, certain types of trusts, or certain tax-exempt organizations. An S Corporation can have only one class of stock, which is usually common voting stock. However, this stock may vary in terms of voting rights without being classified as a second class of stock.
A subchapter S corporation is a corporation that has elected a special tax status with the IRS. The main advantage associated with the "S" Corporation is that the income passes through to the shareholders, thus avoiding the double taxation of a "C" Corporation. Subchapter S corporations are most appropriate for small business owners and entrepreneurs who want to be taxed as if they were sole proprietors or partners.
A type of corporation that provides its owners with tax treatment that is similar to a partnership and liability protection similar to a corporation.
Much like a "C" corporation in that it is also its own legal entity, protects its shareholders from legal liability, and requires a certain amount of yearly maintenance. However, an "S" corporation allows shareholders to claim their share of the corporation's income directly on their personal tax return, avoiding a double tax situation. However, an "S" corporation is generally limited in the amount of shareholders.
A corporation in which five or fewer individuals own at least 50% of the stock, with the same legal right of a corporation except from a tax standpoint.
A general or close corporation that elects pass-through taxation treatment with the IRS. Limited to 100 shareholders, and these shareholders must be U.S. resident individuals.
A corporation that has elected to be taxed under Subchapter S. The taxable income of an S corporation is not subject to tax at the corporate level, but is allocated to the shareholders to be taxed at that level. S corporation is similar, but not identical, to partnership taxation.
An S corporation is a corporation that meets certain requirements and elects to have its income taxed to its stockholders rather than to the corporation. It is a domestic corporation that elects to be treated like a partnership for tax purposes.
A corporation which elects subchapter S tax treatment. This tax treatment allows the corporation to avoid entity level taxation.
A corporation that has elected to be treated as a conduit entity, with income and losses flowing through and taxed directly at the shareholder level. Also see C Corporation.
A corporation granted a special tax status as specified under the Internal Revenue Code. The code is very explicit on how and when this election is made and the number of shareholders this type of corporation can have. Since this type of corporation pays no income tax, all gains and losses of the corporation pass through to the individual shareholders in proportion to their holdings.
Also referred to as a Subchapter S corporation. This is a small business corporation that has elected not to be taxed as a regular corporation (a Subchapter C corporation). The profit or loss of an S corporation normally gets passed to the shareholders in proportion to their shares in the corporation. The share-holders report the profit or loss on their individual tax returns.
Small business corporation in which the owners personally pay the corporation's income taxes.
A corporation in which the profits are taxed to the shareholders.
See “Subchapter S corporation.
A corporation whose income is taxed to its shareholders, thus avoiding a corporate tax. Only certain trusts may own S corporation shares.
A corporation with no more than 35 shareholders that is not taxed, but treated similarly to a partnership, if other requirements are met.
A corporation whose income is not taxable. Income from S corporations is taxed to their shareholders, similar to partnerships. Corporations and their shareholders make the decision whether to be S corporations or C corporations, depending on which they believe will have the best tax advantages. Gospel for Asia's Harvest Foundation accepts gifts of stock from both of these types of corporations.
A corporation that has made a special election with the IRS for income tax to be paid by the shareholders rather than directly by the corporation. To qualify, a company must meet certain criteria, including a limitation to 75 or fewer shareholders.Some states do not recognize the S Corp election, so it is possible for a Federal S Corp to be subject to income tax at the state level. Also called Subchapter S Corporation (contrast with C Corporation).
A corporation with full "liability shield" that has elected pass through tax treatment as an S corporation. An S corporation does not pay tax at the corporate level, but files a return on Form 1120 S. Information is then forwarded to each owner as to his/her share of the taxable gains or losses and must be included on the owner's personal tax returns. To elect S Corporation tax treatment the company must meet the requirements and file an election on Form 2553 within 75 days of formation or 75 days from the end of any taxable year. Occasionally, S corporations can cause "phantom income."
A small corporation which elects subchapter S tax treatment pursuant to rules set forth by the IRS. This tax treatment allows for the shareholders to be treated similar to partners in a partnership for purposes of taxation. As such, the profits of the corporation are apportions pursuant to the pro-rata shares, and taxed at the personal rate. This is referred to as a pass through entity for taxation purposes.
An S corporation is a form of corporation, allowed by the Internal Revenue Code (IRS). The code is very explicit on how and when this election is made and the number of shareholders this type of corporation can have. Since this type of corporation pays no income tax, all gains and losses of the corporation pass through to the individual shareholders in proportion to their holdings. Thus S Corporation enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership. Also called Subchapter S Corporation.
A business, which benefits as an incorporation, yet is nontaxable as the burden of income tax falls on its individual shareholders.
A corporation that limits its ownership structure to 100. An S corporation does not pay taxes, rather, similar to a partnership, its owners pay taxes on their proportion of the corporation's profits at their individual tax rates.
A domestic corporation that is recognized as a regular corporation under state law but is granted special status for federal income tax purposes.
In "subchapter S" of the Internal Revenue Code, a corporation having 35 or fewer shareholders is allowed (if it meets other requirements of the code) to be taxed as if it were a partnership with the income "passing through" to the owners; this allows a small corporation to distribute income directly to its shareholders and avoid corporate income tax or double taxation
A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.
An S corporation is created under the Internal Revenue Code. A corporation may elect to be treated as an S corporation. Stringent rules exist with respect to how and when the election is made; the number and type of shareholders; and the means by which the election may be terminated. S corporations pay no income tax; all items of income, gain, credit, and losss pass through to the shareholders in proportion to their shareholdings.
An incorporated business that is a "pass-through” entity for tax considerations. S corporations have similar legal status to C corporations: limited liability, avoidance of double taxation, and continuity of business in succession transfers However, the maximum number of shareholders may only be 75.
Business enterprise allowed by the IRS for most companies with 75 or fewer shareholders, enabling the company to enjoy the benefits of incorporation while being taxed as if it were a partnership.
A "subchapter S" corporation is a corporation that elects by filing with the IRS to be treated as a partnership for taxation purposes.
Named after the subchapter of the tax law that authorizes it, an S corporation generally pays no tax because profits and losses are passed on and taxed to the shareholders.
A corporation with a limited number of shareholders that is treated as a partnership for tax purposes.
Also known as a Subchapter-S Corporation; it is a type of corporation in which the gains and losses of the corporation pass directly to the shareholders.
self-employment tax separate tax returns
An S corporation or S-corp, for US federal tax purposes, is a corporation, limited liability company, or other eligible entity that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code.