[James Oswalt] OSWALT TAX & CONSULTING SERVICES INC MARSHALL, Texas, USA 75670 PRESIDENT SUBCHAPTER S CORPORATION 1972 - Present "Late/Back Year Taxes, Individual, corpoations & Non-profits"
S corporation is a type of corporation, which avoids the double taxation existing in a C corporation. The name of S corporation was get from the U.S tax code. It is also known as a subchapter S corporation. The format of S corporation makes good sense for many businesses especially in the hospitality industry, such as family-owned operations.
A Subchapter S Corporation (S Corporation or S Corp) is a domestic business entity that is very popular choice for small business owners. An S-Corp is a corporation that has received the Subchapter S designation from the Internal Revenue Service (IRS).
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An S corporation is a corporation created under state law that elects to be taxed under Subchapter S of the Internal Revenue Code. This election results in an S corporation being treated as a pass-through entity for federal income tax purposes, the profits and losses of which pass through to the shareholders rather than being taxed to the corporation.
Why are Subchapter S Corporations not allowable in an IRA? | Kingdom Trust Blog
S corporations are a unique business form. Named after Subchapter S of Chapter 1 of the Internal Revenue Code, these corporations mix the benefits of a partnership with the benefits of being a corporation to create a flexible business.