Tagged With "Subchapter"

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LLC or S-Corp.... What's the difference?

Art Post · 1/22/2111:56 AM

Let's establish some facts and terms first. 1.) An S-Corp is not actually a separate business entity that is created. 2.) Being an S-Corp means that you are already a business entity of some type and you file IRS Form 2553 with which you make an Election to be treated for tax purposes as a Subchapter S Corporation. 3.) The primary feature of S Corporation status is that the income of the entity will drop through to the shareholders and not be taxed at the entity level, and it will not be...

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LLC or S-Corp.... What's the difference?

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