Ads
related to: s corporation legal liabilities- S Corporations vs. LLCs
Learn the key differences between
an S corp & an LLC and get started.
- Compare Business Types
Compare Different Business Types
To See Which One Works for You.
- Check your business name
Before you start a business, make
sure the name isn't already in use.
- Business resource center
Here's what you need to start, run,
and legally protect your business.
- How to incorporate online
Here's what you need to know about
incorporating your business online.
- Can an S Corp Be a Member
Can an LLC own an S corporation
or the other way around?
- S Corporations vs. LLCs
Search results
Results From The WOW.Com Content Network
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 2016 mapping of 41 countries’ corporate liability systems shows wide variations in approaches to liability, and that corporate liability is a dynamic area of legal innovation and evolution. [ 1 ] The term legal person refers to a business entity (often a corporation, but possibly other legal entities, as specified by law) that has both ...
It combines the simplicity and flexibility of an LLC with the tax benefits of an S-corporation (self-employment tax savings). [28] Some legal scholars argue that corporate income taxes are intended to limit the power of corporations and to offset the legal benefits corporations enjoy, such as limited liability for their investors. [29]
Separate legal personality of the corporation (access to tort and contract law in a manner similar to a person) Limited liability of the shareholders (a shareholder's personal liability is limited to the value of their shares in the corporation) Transferable shares (if the corporation is a "public company", the shares are publicly listed and ...
S.A (Société Anonyme): ≈ Public Limited Company (P.L.C) (UK), Corporation (US/Can) S.A.S (Société Anonyme Simplifiée): ≈ Unlisted public company (Au), Close Corporation (CC) (S. Africa), Private Corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can ...
Registration is the main prerequisite to the corporation's assumption of limited liability. The law sometimes requires the corporation to designate its principal address, as well as a registered agent (a person or company designated to receive legal service of process).
Ad
related to: s corporation legal liabilities