An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS).

The Internal Revenue Service allows a corporation to elect to be treated as a small business corporation, or S corporation, for federal income tax purposes, provided ...

A corporation is a legal entity created by individuals or shareholders that functions as a separate organization from its owners. Corporations have some of the same legal rights as individuals. They ...

When a small business incorporates, it is automatically a C corporation, also called a regular corporation. The most basic characteristic of the corporation is that it is legally viewed as an ...