Transform Your Business with the Benefits of Pass-Through Corporations

Rather, shareholders in the businesses considered S Corporations are taxed at the personal income tax rate, 3.07 percent. Shareholders of an S Corporation ... If the shareholder(s) of an S corporation made an S election for federal purposes, New York State does not automatically treat the company as a ... These include businesses operated as sole proprietorships, partnerships, S corporations, and limited liability companies taxed as partnerships. The tax on the ... This designation allows the profits of the corporation to “pass through” the business onto the shareholders or owners. Accordingly, the profits ... S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. S Corporations and Limited Liability Companies (LLC) both protect owners from personal liability for business debts and other liabilities. Eligible corporations, however, are permitted to make an election to be treated as an S corporation, which enables the shareholders to receive pass-through ... Pass-through tax means the owners of a company pay taxes while the entity itself does not pay taxes. The owners claim the income of the company on their ... Corporations have an election to make. The business can form as a C ... S corporation (meaning that it constitutes a pass-thru-entity). Accordingly, the S Corporation is most commonly used for family or other closely owned businesses that obtain capital from their individual stockholders and/or ...