S corporation

   A business term for a profit-making corporation whose shareholders have received subchapter S corporation status from the Internal Revenue Service. Shareholders of an S corporation have limited liability status (as they would in any corporation) but are taxed as a partnership or sole proprietor. Thus, instead of being taxed as a separate entity (as is a C corporation), the profits and losses of an S corporation are passed through to the shareholders and are reported and paid by them on their personal tax returns.

Business law dictionary. 2015.

Look at other dictionaries:

  • corporation — cor·po·ra·tion /ˌkȯr pə rā shən/ n [Late Latin corporatio, from Latin corporare to form into a body, from corpor corpus body]: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals… …   Law dictionary

  • Corporation — • An association recognized by civil law and regarded in all ordinary transactions as an individual. An artificial person Catholic Encyclopedia. Kevin Knight. 2006. Corporation     Corporation …   Catholic encyclopedia

  • corporation — [ kɔrpɔrasjɔ̃ ] n. f. • 1530; angl. corporation « réunion, corps constitué », du lat. médiév. corporari « se former en corps » 1 ♦ Hist. Association d artisans, groupés en vue de réglementer leur profession et de défendre leurs intérêts. ⇒… …   Encyclopédie Universelle

  • Corporation of Cochin — കൊച്ചി കോര്‍പ്പറേഷന്‍ State …   Wikipedia

  • Corporation Park, Blackburn — Corporation Park Triumphal arches at the southern entrance (large version) Type Urban park Location Blackburn, Lancashir …   Wikipedia

  • Corporation Bank — Type Public Traded as BSE: 532179 …   Wikipedia

  • Corporation tax in the Republic of Ireland — is a levy on a company’s profits. The tax is charged on both a company s income and chargeable gains. The corporation tax in Ireland is quite low, and is often cited as an example of tax competition, as it is used as an incentive for foreign… …   Wikipedia

  • Corporation (rpg) — Designer(s) James Norbury Publisher(s) Brutal Games Publication date 2006 Genre(s) Science Fiction …   Wikipedia

  • Corporation Street, Manchester — Corporation Street from the Wheel of Manchester Corporation Street is one of the major streets which bisects Manchester city centre. The street starts where Cross Street meets the junction of Market Street and ends at the junction of Dantzic… …   Wikipedia

  • Corporation Tax Act 2010 — Parliament of the United Kingdom Long title An Act to restate, with minor changes, certain enactments relating to corporation tax and certain enactments relating to company distributions; and for connected purposes …   Wikipedia

  • Corporation Service Company — (CSC) Type Privately Held Corporation Industry Registered Agent, Corporate Governance, Corporate Compliance, Name and Intellectual Property Management Founded Delaware (1899) …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.