MLchartDataset catalogue

S corporation

Term · Law · MLC-T-LAW-004379

A type of closely held corporation that elects to pass corporate income, losses, deductions, and credits through to its shareholders for federal tax purposes. This avoids double taxation of corporate income, as profits are taxed only at the shareholder level. S corporations must meet specific criteria, including having no more than 100 shareholders and only one class of stock.

Table 1. Record
IdentifierMLC-T-LAW-004379
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004379",
  "term": "S corporation",
  "field": "Law",
  "definition": "A type of closely held corporation that elects to pass corporate income, losses, deductions, and credits through to its shareholders for federal tax purposes. This avoids double taxation of corporate income, as profits are taxed only at the shareholder level. S corporations must meet specific criteria, including having no more than 100 shareholders and only one class of stock.",
  "url": "https://mlchart.com/terminology/law/s-corporation/"
}

Record 4,442 of 5,441 in Law terminology (MLC-0107). Request the full dataset.