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What is an S corporation?
Answered By Ivan Welten
S Corporation is a typical standardized
business entity which has elected a status of
special tax together with the IRS. Such tax
imposition permits the corporation to be
considered as a non-separate taxable entity.
In its place, the corporation's income is
treated similar with that of the income of
the sole proprietorship pr partnership. The
income is considered as a pass-through income
directly to the shareholders. Hence, the
income of the S Corporation is reported by
the tax returns of the shareholders individually.
keywords: Incorporation | Incorporate | Incorporating | Business | S Corporation | Corporation
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