Subchapter S Corporation
Definition of "Subchapter s corporation"
Corporation whose stockholders are taxed as partners. That is, income is taxed as direct income to the shareholders. The key advantage of this tax treatment is that shareholders escape double taxation. To qualify as an S corporation, there must be 35 or fewer stockholders; there can be only one class of stock; and no nonresident foreigners may be shareholders.
Popular Real Estate Terms
Urbanized area in and around a major city. The metropolitan area may overlap county and state boundaries and may encompass a city, its suburbs, and the orbit of its social and economic ...
Same as term resale proceeds: Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. ...
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Designing a home with a Spanish cultural flavor. ...
Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...
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