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What is an S-Corporation?

An "S-Corporation" is a regular corporation that has between 1 and 100 shareholders and that passes-through net income or losses to shareholders. An S Corp is a corporation that elects to be treated as a pass-through entity (such as a sole proprietorship or partnership) for tax purposes.
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Dragvon J   wrote on : Tue May 04th,2010   Back to Article

Need help becoming an LLC or to incorporate.

Reply : infotaxsquare.com
 
S corporation's special tax status eliminates double taxation, it lacks the flexibility of an LLC in allocating income to the owners. An LLC may offer several classes of membership interests while an ‘S’ corporation may only have one class of stock. An LLC is a pass-through tax entity. This means that the income to the entity is not taxed at the entity level. Whereas Corporations are treated as a separate legal taxable entity for income tax purposes. Therefore, corporations pay tax on their earnings

You may also read our article on this page for difference between Corporation and LLC.


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