Do payments, either direct or indirect, to a subchapter S corporation always create an increase in the taxpayer's basis?
What does S stand for?
S stands for Subchapter S Corporation
This definition appears very frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of S
- Starboard (nautical)
- Starboard Truss Segment (ISS)
- Stokes (kinematic viscosity)
- Stuttgart (auto license plate)
Samples in periodicals archive:
When selling their businesses, most owners of small C corporations will pay double the tax that they would have paid were they an LLC or Subchapter S corporation.
Of course, both the Subchapter S corporation and limited partnership variations were efforts to obtain insulation from business liabilities while mitigating the socalled double tax that results when a C corporation pays federal income taxes on its profits and the shareholders pay federal income taxes a second time when those profits are distributed to them as dividends.
Fox agreed the limitations imposed on being a Subchapter S corporation are essentially removed.
significantly liberalizes subchapter S corporation rules, clarifies certain worker classification rules and simplifies and expands retirement plan benefits.