2006-07-05 08:09:41 · 4 answers · asked by fiona_0501 1 in Business & Finance ➔ Corporations
an S Corporation is a form of corporation allowed by the IRS for most companies with 35 or fewer sharholders which enavles the company to enjoy the benefits of incorporation but be taxed as if it were a partnership
2006-07-05 08:50:06 · answer #1 · answered by martinge 1 · 0⤊ 0⤋
an S corporation has a different tax set-up than a C Corporation. To read about the difference between the 2 for free, take a look at legalzoom.com
2006-07-05 08:13:58 · answer #2 · answered by londonhawk 4 · 0⤊ 0⤋
S corp is a legal entity, registered as corporation but its revenue and losses are not retained by the corporation but float to the owner's income tax return. S corp is more restrictive then C corp, but then again it costs lots less to start up then C corp. You are still faced with double taxation, as in C corp but you get the advantage of legal protection limitation to the assets of the corporation.
2006-07-05 08:50:09 · answer #3 · answered by fasb123r 4 · 0⤊ 0⤋
thats a self employed corp...your the sole owner.
it gives you the protection of a corporation but you are still responsible for the taxes
2006-07-05 08:13:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋