S corporation definition

S corporation means a person that has made an election under subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code for its taxable year.
S corporation shall have the meaning set forth in Section 1361 of the Code.
S corporation means an incorporated entity for which a valid election under section 1362 of the Internal Revenue Code (26 U.S.C. 1362) is in effect.

Examples of S corporation in a sentence

  • A C corporation or S corporation without a commercial domicile in this state.

  • If you are an S corporation shareholder, do not include any loans that were assumed by the corporation or that were liens or encumbrances on property you contributed to the corporation since the effective date if the corporation took the property subject to the debt.

  • A penalty of $500 will be assessed to any S corporation that fails to file a composite return that includes all qualified nonresident shareholders.

  • Generally, a well started before October 1, 1978, is not subject to the at-risk rules.activities of holding real property.The activity of holding real property is subject to the at-risk rules for property placed in service after 1986, and for an interest acquired after 1986 in an S corporation, partnership, or other pass-through entity engaged in an activity of holding real property.

  • See the list of Pass-through Tax Credits on page 18.An S corporation filing a composite return is liable not only for the tax shown on the return.


More Definitions of S corporation

S corporation means an incorporated entity for which a valid election under section 1362 of
S corporation means "S corporation" as defined in Section 1361(a) of the Internal Revenue Code;
S corporation means a corporation for which a valid election under section 1372(a) of the Internal Revenue Code is in effect. A corporation must file Form 84-105 if (a) it elected to be an S corporation by filing Federal Form 2553, (b) the IRS accepted the election, and (c) the election remains in effect. Do not file Form 84-105 until the corporation has been notified by the IRS that the federal election has been accepted.
S corporation means an S corporation as defined in Section 1361, Internal
S corporation means "S corporation" as defined in Section 1361(a) of the Internal