What Is An S Corporation What Are Its Benefits
Businesses can take many legal forms – sole proprietorships, partnerships, limited liability companies (LLCs), and corporations, along with different flavors of each. One commonly used type of corporation is the “S corporation,” which can both limit liability and give tax advantages to some businesses. An S corporation is a regular corporation that has elected “S corporation” tax status. Being a corporation generally shields owners from the business’ liabilities. Being an S corporation offers this perk, plus the tax structure of a partnership....