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Q

What is a C corporation, or S corporation?

Last Updated: Jun 25, 2015  |  7 Views
Topics: Business

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Refer to Internal Revenue Code, Chapter 26 Section 1361

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
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