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What else can I help you with?
In forming a Sub S corporation if the shareholder contributes a piece of equipment to the corporation what is its basis in the corporation?
The equipment would become a fixed asset of the corporation.
When a corporation receives a dividend from another corporation how is it taxed?
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.
S- corporation Accumulated Earnings Tax?
No. In general, Sub Chapter S corporations are not subject to the AET.
How does a Sub S corporation pay off a debt that is on the books?
Writes a check and sends it out to the creditor.
If you face a garnishment but your employer pays your corporation and not you directly will your sub S corporation's wages be taken?
Then the corporation that pays the employee wages has the duty to withhold any earnings according to the specific garnishment.
Can you fire a vice president of a s corporation?
Yes, a vice president of an S corporation can be fired, as they are typically considered employees of the corporation. The authority to terminate their employment usually lies with the board of directors or the president, depending on the corporation's bylaws and structure. It's important to follow the proper procedures outlined in the company's governing documents to ensure compliance with legal and contractual obligations.
If a sub-s corporation is sold and dissolved are its assets at tax year-end listed as zero?
Yes. And its tax year end was the date of dissolution.
Do you have to pay personal taxes as well as corporate taxes on a sub-chaper S Corporation in New Hampshire?
According to http://www.residual-rewards.com/new-hampshire-s-corporation.html, With only a few exceptions, under the Subchapter S election for taxation as a partnership the S corporation pays no income taxes and corporation income or loss is passed through direct to the stockholders. I hope that helps, Jahno B.
What are the differences between a government corporation and a private Corporation?
A private corporation continues in existence until its own owners--that is, its shareholders, who are private citizens--decide to terminate the corporation. A government corporation continues in existence until Congress decides to kill it off by repealing the legislation that created it.
What are the major differences between a government corporation and private corporation?
A private corporation continues in existence until its own owners--that is, its shareholders, who are private citizens--decide to terminate the corporation. A government corporation continues in existence until Congress decides to kill it off by repealing the legislation that created it.
What are the major differences between government corporation and a private corporation?
A private corporation continues in existence until its own owners--that is, its shareholders, who are private citizens--decide to terminate the corporation. A government corporation continues in existence until Congress decides to kill it off by repealing the legislation that created it.
Is my corporation an S corporation or a C corporation?
To determine if your corporation is an S corporation or a C corporation, you need to check with the IRS. S corporations have specific eligibility requirements and must file Form 2553 to elect S corporation status. C corporations are the default classification for corporations that do not elect S corporation status.
