Talk:S corporation

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This page is no longer disputed[edit]

If anyone still has questions about S corporations, please post them and I will answer with citations.

Grimmbusiness (talk) 10:53, 22 May 2015 (UTC)

I'd say it's still disputed, but I just stumbled across this ... The page is clearly incorrect in many factual aspects. An S corporation isn't a corporation at all. Subchapter S is the portion of IRC that allowa a tax election under federal tax law. Subchapter S applies to C corporations and non-corporations as well, such as LLCs. There is no clarification of this anywhere in the article. A reasonable person comes away with the strong impression that an S corporation is an actual corporation and not a federal tax election. The article is written as if every S corporation is a corporation. It's not. — Preceding unsigned comment added by (talk) 07:57, 18 September 2015 (UTC)

For an LLC to be treated as Subchapter S for taxation, it files Form 8832 to be taxed as a corporation, then Form 2553 to be taxed under Subchapter S. — Preceding unsigned comment added by (talk) 08:09, 18 September 2015 (UTC)

Yes, an S corporation is an actual corporation. Indeed, only an actual corporation can legally elect to be an S corporation. The S election is indeed provided for in the Internal Revenue Code -- but the corporation itself is not the "election."
Form 2553 is indeed the form used to make the S election. Famspear (talk) 01:21, 19 September 2015 (UTC)
The point was an LLC can legally elect to be a "Subchapter S corporation" under IRS rules but is *NOT* a corporation. The 'C' in LLC is for "company", i.e., Limited Liability Company. It's a company, not a corporation. I.e., this is proof that a "Subchapter S corporation" is not necessarily a corporation. A "Subchapter S corporation" can be a corporation if a C corporation elects to be taxes under Subchapter S. — Preceding unsigned comment added by (talk) 15:21, 28 September 2015 (UTC)

Yes, that's pretty basic. But that's not what you originally wrote. You wrote: "an S corporation isn't a corporation at all." That's not precisely correct. Many S corporation are indeed corporations.

Your later statement is correct: ".....a 'Subchapter S corporation' is not necessarily a corporation...." (italics added by me). Or, you could have written something like this: "Some S corporations are not actually corporations. For example, limited liability companies and partnerships can elect to be treated as S corporations." Famspear (talk) 17:37, 28 September 2015 (UTC)

Also, I have added your clarification to the article in several places. Thanks! Famspear (talk) 17:42, 28 September 2015 (UTC)

Number of Shareholders[edit]

hello ı am a student ın T.R.N.C. I want to ask a questıon what ıs the benefits of small busıness? —Preceding unsigned comment added by (talkcontribs) on 28 December 2005.

It is my understanding that an S-corporation can have no more than 75 shareholders —Preceding unsigned comment added by (talkcontribs) on 21 May 2006.

100 or more is past the limit —Preceding unsigned comment added by (talkcontribs) on 6 July 2006.

You should take an English or Grammer class. —Preceding unsigned comment added by (talkcontribs) on 11 September 2006.

The limit used to be 75, however, recently, this was changed to 100.

Maybe you should take a class as well. First, the correct spelling is grammar, not grammer. Second, your sentence structure should read:

"The limit used to be 75, however, this was recently changed to 100." —Preceding unsigned comment added by (talkcontribs) on 26 December 2006.

Correct, the limit for shareholders is 100 [1]RAKinsler (talk) 00:35, 31 December 2014 (UTC)

Assessment comment[edit]

The comment(s) below were originally left at Talk:S corporation/Comments, and are posted here for posterity. Following several discussions in past years, these subpages are now deprecated. The comments may be irrelevant or outdated; if so, please feel free to remove this section.

==WP Tax Class==

Start class because this article needs more references and sections on history and impact.EECavazos 20:30, 13 November 2007 (UTC)

==WP Tax Priority==

Mid priority because this is the business entity created by the tax code in a country.EECavazos 20:30, 13 November 2007 (UTC)

Last edited at 20:30, 13 November 2007 (UTC).

Substituted at 05:09, 30 April 2016 (UTC)