S corporations

Corporations that have elected to be taxed according to the provisions of Subchapter S of the Internal Revenue Code. In order to qualify under these provisions, the corporation can have only one class of stock. By so qualifying, tax is eliminated at the corporate level and the shareholders are taxed on their proportionate share of the corporation's profit. This is important because currently the highest individual income tax rate is lower than the highest corpo­rate income tax rate.

Find a Real Estate Agent to help you to buy or sell a home