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Keyincorporators.com When Price & Quality Are Key. |
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Keyincorporators.com When Price & Quality Are Key. |
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Keyincorporators.com covers all the
bases. Created with the assistance of an attorney,
we provide the complete package for a S Corporation. An S corporation is a corporation that has elected a special tax status with the IRS. This tax treatment allows the income of the corporation to be treated like the income of a partnership or sole proprietorship; the income is "passed-through" to the shareholders. The pass through taxation of an S corporation offers a great advantage over C corporations which may be subject to double taxation. That is, a C Corporation, for any profits generated, is first taxed at the corporate level. Thereafter, when a shareholder receives a distribution of those profits, they are taxed at the personal level. Hence, the term "double taxation". An S corporation, on the other hand, allows income, deductions, and losses to be passed through the S corporation to the individual tax return of each shareholder. This is the essence of "pass-through" taxation, i.e., the income is passed through to the shareholders. Therefore, the shareholder's individual tax returns report the income or loss generated by an S corporation. In order to avoid double taxation, a large number of our clients elect to be treated as an S Corporation.
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