What is a C corporation, or S corporation?
Last Updated: Jun 25, 2015 | 7 Views
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Refer to Internal Revenue Code, Chapter 26 Section 1361
(a) S corporation defined -
- 1) In general For purposes of this title, the term "S corporation"
- means, with respect to any taxable year, a small business
- corporation for which an election under section 1362 (a)
- is in effect for such year.
- (2) C corporation defined -
- C corporation - for purposes of this title, the term
- "C corporation" means, with respect to any taxable year,
- a corporation which is not an S corporation for such year.
- See also: Incorporating in Kansas without a Lawyer, by W. Dean Brown, p. 35 and p. 39, for a definition and clarification 346.0662 Brown