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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.
Note: Any of these entities can be incorporated as a "Capital Variable" entity, in which case has to add the "de C.V." sufix to its company name. Example: "S.A. de C.V.", "S. de R.L. de C.V." Business entities according to the "Ley del Mercado de Valores" (Stock Market Law) S.A.B. (Sociedad Anónima Bursátil)
A C corporation is distinguished from an S corporation, which generally is not taxed separately. Many companies, including most major corporations, are treated as C corporations for U.S. federal income tax purposes. C corporations and S corporations both enjoy limited liability, but only C corporations are subject to corporate income taxation. [1]
A suffix, such as Company, International, or Group, that is an integral part of the company name (as determined by usage in independent reliable sources) should be included, especially when necessary for disambiguation or when it is part of the company's acronym/initialism, e.g.: Louis Dreyfus Company, JBS Foods International (JBSI), and Mirage ...
The title "S.I.A." and "A/S" are put before the name of the corporation. Lithuania uses "UAB" (Lithuanian: Uždaroji Akcinė Bendrovė) for "limited liability company" and "AB" (Lithuanian: Akcinė Bendrovė) for "joint stock company", and, like in Latvia, they also appear before the corporation's name. [citation needed]
A corporation may be chartered in any of the 50 states (or the District of Columbia) and may become authorized to do business in each jurisdiction it does business within, except that when a corporation sues or is sued over a contract, the court, regardless of where the corporation's headquarters office is located, or where the transaction ...
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A public benefit corporation is a legal entity that is organized and taxed as either an S corporation or C corporation. [40] Founders will want to keep in mind that C-corporations experience a double tax associated with profits and again with dividends or payouts to shareholders. [41]