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C vs S is an election made by a corporation in regards to how it wants to be taxed. A C corporation files a tax return and pays tax based on corporate tax rates. An S corporation files a tax return; however, the profit or loss passes through to the owner or partners personal tax return and tax is paid at the personal rate. Obviously, only a private closely held corporation can elect S status. The state tax treatment for an S-corp may be different than the federal treatment. You could have a corporation which has elected S status for federal taxes and C status for state taxes. The subchapter-S election is merely a tax classification, not a legal entity formation difference.
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Can a S corp be owned by a C corp or can a LLC be owned by a C corp or S corp?
Yes, yes, yes. Tax issues get fun when consolidating between entity types. The answer is too long to type. Pay a CPA.
What is the difference between solipsism and solipcism?
There is no difference between "solipsism" and "solipcism"; they are likely just spelling errors of the same term, which refers to the philosophical idea that only one's mind is sure to exist or the view that the self is all that can be known to exist.
Should you have an s corp or a c corp?
in the US, you want an s corp if you want more personal investment in the company. c corp is more limited liability. also for s corp there is no corporate tax rate (it's the same as your personal rate) but for c corp you pay the corporate tax rate.
What are the legal structures to form a business?
Limited Partnership, LLC, and Incorporation (S-corp; C-corp) form a business.
Domestic bca corporation in Illinois?
What is the difference in a domestic bca and an s corp
How do you find out if a corporation is a c corporation?
The tax form filed by the entity will tell you if it is a C corp (Form 1120), and S corp (Form 1120S), or a Partnership (Form 1065).
The difference between complementary and supplementary?
c=90 degrees s=180 degrees
Who is C A R F Realty 1997's registered agent in NJ?
CT Corp
How do you Move s-corp to c-corp?
File an 8832, apply for a new EIN. Get a CPA there are some tricky tax treatmetns, look up BIG tax.
How do you dissolve an S Corp in Nevada?
An S Corp is dissolved by filing a certificate of dissolution with the Nevada agency where the Corp is registered. Once the paperwork is filed, the S Corp is considered dissolved.
Is the bond between H Cl and C polar?
The S-Cl bond is polar. The electronegativity difference between S and Cl is 0.58, which means it is polar.
What is MedCath Corp.'s population?
MedCath Corp.'s population is 30.
