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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.
The beneficiary of such a trust makes a QSST election for each S corporation in which the trust holds stock. A trust is eligible to hold S corporation stock if it is a Subpart E trust ("grantor trust"), a testamentary trust , a voting trust , a qualified Subchapter S trust ("QSST"), or an electing small business trust ("ESBT").
In the following explanation, Q is the quota required for election. Count the first preferences votes. Declare as winners those candidates whose total is at least Q. For each winner, compute surplus (total number of votes minus Q). For each winner, in order of descending surplus:
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Gary Gensler is set to leave his post in just a month’s time, but the controversial chair of the Securities and Exchange Commission is continuing his agency’s aggressive campaign against the ...
NEW YORK (Reuters) - U.S. corporations are turning to foreign exchange options again to protect their cash flow as they fear the U.S. presidential election and diverging central bank interest-rate ...
The tax treatment of the conversion to a corporation of a foreign eligible entity treated as a disregarded entity would be consistent with current Treasury regulations and relevant tax principles. The proposal was eventually dropped again due to criticism from businesses, and it was not included again in the 2011 budget proposal either.
A Georgia judge on Friday dismissed a request by Kenneth Chesebro, one of President-elect Donald Trump’s alleged co-conspirators in the sweeping 2020 election subversion and interference case ...