To qualify for S corporation status, the corporation must meet the following requirements:
Income to the corporation, as a legal "person", is taxable against the corporation. When the treasury pays dividends from its income to its shareholders, the dividend is taxable again as "income" to the shareholders. A "subchapter S-corporation" avoids this by skipping the corporate taxes and directly taxing the shareholders for any corporate income.
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Of course. Even income from business deals occuring entirely out of the country are taxable income. Forreign source, but taxable here (and maybe there).
Dividends are income to the receiving corporation. If it is a sub-chapter S corporation, it is income to the shareholders, as is any other income of the corporation.
No it is not taxable
Taxable income is the total amount of your income that is taxable. Certain types of income are exempt from taxes, but most income is taxable. To find out more information about taxable income, go to http://en.wikipedia.org/wiki/Taxable_income
ALL income is taxable.
Yes, Bonuses are income and income is taxable
Life insurance premium expense when the corporation is the beneficiary is a permanent difference. It is deducted for book income but not for taxable income. And the proceeds received on such policies result in a book gain but are not taxable.
Supplemental security income (SSI) is not taxable income.
In the UK, the HM Revenue & Customs website offers detailed information about taxable income. It is also explained what counts as taxable income and what counts as a non-taxable income.
Yes, any income no matter how you make it is taxable.