{"id":308,"date":"2024-06-27T13:03:11","date_gmt":"2024-06-27T13:03:11","guid":{"rendered":"http:\/\/fastforwardstories.com\/?p=718"},"modified":"2024-06-27T13:03:11","modified_gmt":"2024-06-27T13:03:11","slug":"what-is-an-s-corporation","status":"publish","type":"post","link":"https:\/\/cloud.titletapsites.com\/widman-immigrationlaw\/2024\/06\/27\/what-is-an-s-corporation\/","title":{"rendered":"What is an S Corporation?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_77leivhtes dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img decoding=\"async\" src=\"https:\/\/fast.wistia.com\/embed\/medias\/77leivhtes\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>\nIn US law, corporations are organizations authorized to act as a legal entity. US and state tax laws allow a special &#8216;S Corporation&#8217; tax status that changes how corporate taxes are handled.  The government taxes regular &#8216;C&#8217; corporations directly on their profits, under corporation-specific laws.  Individual income tax only applies to money that owners receive from the corporation, such as salaries and dividends.  &#8216;S&#8217; corporations do not pay taxes directly. Their profits or losses &#8216;pass through&#8217; to the owners&#8217; personal tax returns. This makes them similar to LLCs tax-wise.  S status can be &#8216;elected&#8217; by the shareholders, if the restrictions for S corp status are met. S corps can also un-elect S-corporation status, and revert to ordinary &#8216;C&#8217; corporation taxes.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In US law, corporations are organizations authorized to act as a legal entity. US and state tax laws allow a special &#8216;S Corporation&#8217; tax status that changes how corporate taxes are handled. The government taxes regular &#8216;C&#8217; corporations directly on their profits, under corporation-specific laws. Individual income tax only applies to money that owners receive [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-308","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is an S Corporation? - Cupertino, CA Law Firm | Law Offices of Timothy D. Widman<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cloud.titletapsites.com\/widman-immigrationlaw\/2024\/06\/27\/what-is-an-s-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is an S Corporation? - Cupertino, CA Law Firm | Law Offices of Timothy D. Widman\" \/>\n<meta property=\"og:description\" content=\"In US law, corporations are organizations authorized to act as a legal entity. US and state tax laws allow a special &#8216;S Corporation&#8217; tax status that changes how corporate taxes are handled. The government taxes regular &#8216;C&#8217; corporations directly on their profits, under corporation-specific laws. 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