|
gptkbp:instanceOf
|
gptkb:public_company
corporate tax status
|
|
gptkbp:canBe
|
terminated by IRS
|
|
gptkbp:canConvertFrom
|
gptkb:C_Corporation
|
|
gptkbp:compatibleWith
|
corporate shareholders
partnership shareholders
non-resident alien shareholders
more than one class of stock
|
|
gptkbp:convertedTo
|
gptkb:C_Corporation
|
|
gptkbp:createdBy
|
filing articles of incorporation
|
|
gptkbp:distributesIncome
|
to shareholders
|
|
gptkbp:electionMadeBy
|
filing Form 2553 with IRS
|
|
gptkbp:filesForm
|
gptkb:1120S
|
|
gptkbp:firstAllowedIn
|
1958
|
|
gptkbp:hasPassThroughTaxation
|
true
|
|
gptkbp:hasShareholders
|
true
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
S Corporation
|
|
gptkbp:incomeTaxedAt
|
shareholder level
|
|
gptkbp:maximumNumberOfShareholders
|
100
|
|
gptkbp:provides
|
limited liability protection
|
|
gptkbp:recognizedBy
|
gptkb:Internal_Revenue_Service
|
|
gptkbp:requires
|
domestic corporation
election by shareholders
|
|
gptkbp:shareholdersMustBe
|
U.S. citizens or residents
|
|
gptkbp:subject
|
reasonable compensation rules
built-in gains tax in some cases
state franchise taxes in some states
state-level requirements
|
|
gptkbp:taxedUnder
|
gptkb:Subchapter_S_of_Chapter_1_of_the_Internal_Revenue_Code
|
|
gptkbp:usedFor
|
small business tax planning
|
|
gptkbp:bfsParent
|
gptkb:C_Corps
|
|
gptkbp:bfsLayer
|
7
|