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An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.
A study of a cross-section of Subchapter S firms with an Employee Stock Ownership Plan shows that S ESOP companies performed better in 2008 compared to non-S ESOP firms, paid their workers higher wages on average than other firms in the same industries, contributed more to their workers' retirement security, and hired workers when the overall U ...
Illinois established a new type of entity called the "benefit LLC", making the state the first to allow limited liability companies the same opportunities afforded to Illinois corporations under the state's benefit corporation law. [14] [15] Washington created social purpose corporations in 2012 with a similar focus and intent. [16] [17]
This is a list of benefit corporations This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources .
Plans in public companies generally limit the total number or the percentage of the company's stock that may be acquired by employees under a plan. [4] Compared with worker cooperatives or co-determination, employee share ownership may not confer any meaningful control or influence by employees in governing and managing the corporation.
The polar opposite of GM's decision, says Baack, could be the way BP CEO Tony Hayward became a public punching bag following his company's massive oil spill in the Gulf of Mexico. "In many cases ...
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