A corporation that generally is exempt from federal income tax. Its shareholders include on their tax returns their share of the corporation's separately stated items of income, deduction, loss, and credit, and their share of income or loss not separately stated. An S corporation may have no more than 100 shareholders, may have only one class of stock, and must be a domestic corporation.
Oh no! We may not fully support the browser or device software you are using !
To experience our site in the best way possible, please update your browser or device software, or move over to another browser.
Click the first letter of the term you're searching for to get an easy-to-understand explanation