subchapter S corporation
subchapter S corporation n: s corporation at corporation

Merriam-Webster’s Dictionary of Law. . 1996.

subchapter S corporation
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.

Subchapter S Corporation
S-corporation, Also known as a Subchapter S Corporation.
An eligible domestic corporation that generally avoids double taxation (taxation at both the entity and stockholder level) by electing to be treated as an S-corporation and complying with certain requirements under the IRC (such as the number, type and residency of stockholders). An S-corporation is a "pass-through" entity for tax purposes, which means that it generally does not pay an entity level tax. Instead, the S-corporation's profits and losses generally pass through to its stockholders, who include their respective share of those items on their income tax returns (whether or not the profits or losses have been distributed).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Subchapter S corporation

Webster's New World Law Dictionary. . 2000.

subchapter S corporation
   the choice by a small corporation to be treated under "subchapter S" by the Internal Revenue Service, which allows the corporation to be treated like a partnership for taxation purposes. This may provide the benefit of passing losses (particularly in the early development of the business) to the stockholders. Technically the term "subchapter S corporation" is a misnomer since it is a normal corporation except for the election (choice) which is filed on a form provided by the IRS normally immediately after incorporation, which election can be withdrawn before the beginning of a future taxable year. This election is usually prepared and filed with the IRS by the company's accountant and not the incorporating attorney.
   See also: corporation

Law dictionary. . 2013.

Look at other dictionaries:

  • Subchapter S corporation — See corporation (S corporation) …   Black's law dictionary

  • subchapter s corporation —  Special provisions in the INTERNAL REVENUE SERVICE Code allowing a corporation under certain conditions to be taxed as if it were a partnership, thereby avoiding corporate taxation …   American business jargon

  • Subchapter C corporation — >> C corporation. Webster s New World Law Dictionary. Susan Ellis Wild. 2000 …   Law dictionary

  • S corporation — see corporation Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. S corporation …   Law dictionary

  • S-corporation — USA S corporation, Also known as a Subchapter S Corporation. An eligible domestic corporation that generally avoids double taxation (taxation at both the entity and stockholder level) by electing to be treated as an S corporation and complying… …   Law dictionary

  • 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… …   Business law dictionary

  • subchapter S — / es/ n: a subchapter of chapter 1 of the Internal Revenue Code that allows a small business corporation s taxable income to be computed in a manner similar to that used for a partnership see also s corporation at corporation Merriam Webster’s… …   Law dictionary

  • S corporation — An S corporation or S corp, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code.In general, S Corporations do not pay any income… …   Wikipedia

  • Subchapter S (S Corporation) — A form of corporation that meets the IRS requirements to be taxed under Subchapter S of the Internal Revenue Code. This gives a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership. This means… …   Investment dictionary

  • s corporation — noun Usage: usually capitalized S Etymology: from Subchapter S of the Internal Revenue Code, under which taxation of such corporations is described : a small business corporation that is treated for federal tax purposes as a partnership …   Useful english dictionary

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