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2. S corporation - Wikipedia

   en.wikipedia.org/wiki/S_corporation

   An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.

3. Corporate tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Corporate_tax_in_the...

   However, entities organized as corporations under U.S. state laws and certain foreign entities are treated, per se, as corporations, with no optional election. The Internal Revenue Service issued the so-called "check-the-box" regulations in 1997 under which entities may make such choice by filing Form 8832. [19]

4. Income tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Income_tax_in_the_United...

   The U.S. federal effective corporate tax rate has become much lower than the nominal rate because of various special tax provisions. Corporate tax is imposed in the U.S. at the federal, most state, and some local levels on the income of entities treated for tax purposes as corporations. [60]

5. What Is the Tax Cuts and Jobs Act (TCJA)? - AOL

   www.aol.com/finance/tax-cuts-jobs-act-tcja...

   Taxpayers can deduct depreciation on any section 179 property (e.g., qualified improvement property) the year it’s ready for use (with a maximum deduction of $1 million — up from $500,000 ...

6. Tax Deductions for Small Businesses - AOL

   www.aol.com/finance/tax-deductions-small...

   Business tax deductions Updated November 20, 2024 at 6:59 AM Tax deductions reduce the amount of your business's taxable income, which can save you money on your quarterly or yearly taxes.

7. Taxation of cooperative corporations in the United States

   en.wikipedia.org/wiki/Taxation_of_cooperative...

   Cooperative corporations are formed to provide some mutual benefit for their members, and because of this, the Congress of the United States beginning in 1951 has allowed them a deduction from their income for "patronage dividends."