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For Federal tax purposes, the profit or loss of an S-corp is passed to the owner(s) for inclusion on their personal tax return and taxed at personal rates.
If you owned 75% of the stock in the S-corp, you would pay personal income tax on 75% of the S-corp's profit. If the corp had a loss, you would get a deduction on your personal tax return for 75% of the loss.
What else can I help you with?
Is a corporation taxed more?
Corps are taxed differently than individuals in many ways....especially because of how they account for income. Tax rates for Corps - 34 or 35% as base...are much higher than individuals.
Does an LLC taxed as an S Corp receive a 1099 form?
No, an LLC taxed as an S Corp does not receive a 1099 form.
Does an LLC taxed as an S Corporation receive a 1099 form?
No, an LLC taxed as an S Corporation does not receive a 1099 form.
What is I Corps United States 's motto?
The motto of I Corps - United States - is 'America's Corps
Do LLCs that elect to be taxed as an S Corporation receive 1099 forms?
No, LLCs that elect to be taxed as an S Corporation do not receive 1099 forms.
Does an LLC that has elected to be taxed as an S Corporation receive a 1099 form?
No, an LLC that has elected to be taxed as an S Corporation does not receive a 1099 form.
What is National Cadet Corps India 's motto?
National Cadet Corps - India -'s motto is 'Unity and Discipline'.
What has the author S R Engleman written?
S. R. Engleman has written: 'An economic analysis of the Job Corps' -- subject(s): Job Corps (U.S.)
What is National Cadet Corps - Singapore -'s motto?
National Cadet Corps - Singapore -'s motto is 'To Serve With Pride & Dedication'.
What is I Army Corps Greece 's motto?
The motto of I Army Corps - Greece - is 'Molon labe'.
What is Corps of Guides Canada 's motto?
The motto of Corps of Guides - Canada - is 'By Virtue and Labour'.
What is the motto of Corps of Guides Canada?
Corps of Guides - Canada -'s motto is 'Virtute et Labore Latin,'.
