What S CORPORATIONS means: A type of small business corporation that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses, and credits on their individual returns.
- Definition Standard Deduction:
- Dictionary by the tax law in lieu of itemized deductions. A taxpayer whose gross income is not more than the sum of the standard deduction and exemptions generally does not have to pay tax. See our Standard s corporations.
- Definition Simplified Method:
- Dictionary The most common method of computing the taxable portion of a pension received from a qualified employer plan s corporations.
- Definition Safe Harbor:
- Dictionary that allow a (usually) simpler method of determining a tax consequence than is available following the precise language of the Code or regulations. An example is the simplified method for determining s corporations.
- Definition Shareholder:
- Dictionary An individual or entity that owns shares of capital stock s corporations.
How works S Corporations meaning in Tah definition S .