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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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∙ 15y ago
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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.
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.
What is the difference between C plus plus and the original language?
C++ is easier to use as you have to learn slightly less and script slightly to make your function(s) work.
