S corporation

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A corporation that qualifies and elects to be an S corporation under the Internal Revenue Code.  Unlike C corporations, S corporations typically do not pay taxes to the federal government.  Instead, most S corporations are taxed indirectly through their shareholders.  An S corporation must have a limited number of shareholders, giving rise to the related statutory term "small business corporation."  26 U.S.C. § 1361(b)(2)

See 26 U.S.C. § 1126 U.S.C. § 1361(a), and 26 U.S.C. § 1363(a).

See also