What is S corporation?
A tax election rather than a structure. It can lower self-employment tax once profits are high enough to justify the payroll it requires.
Legal
The definition
A tax election that lets a qualifying company pass income through to owners while paying them a salary.
Where it comes up
This shows up in the structure comparison on this site.
Related
Questions people ask
What is S corporation?
A tax election that lets a qualifying company pass income through to owners while paying them a salary. A tax election rather than a structure. It can lower self-employment tax once profits are high enough to justify the payroll it requires.