Subchapter S : tax option for small corporations
Abstract
"Certain small business corporations are allowed special income tax treatment under Subchapter S of the Internal Revenue Code. Under this option, the corporation pays no income. Although the Subchapter S corporation pays no corporate income tax, it still may use the various tax fringe benefits available to corporations and provide the other advantages of corporations, such as limited liability and ease of ownership transfer."--First page.
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