| Subchapter
S |
 |
IRS regulation which gives a corporation with fewer than 35 or fewer
shareholders the option of being taxed as if it were a partnership.
|
 |
The
advantage is the corporation can then pass income directly to shareholders
and avoid corporate income tax but still enjoy advantages of the corporate
structure.
Also known as S corporation, small business corporation or tax-option
corporation. |
|
|
|
|
Dictionary
