Why a Growing Business Should Elect Subchapter S Filing Status

August 4, 2011 Tax News 2 Comments Print this page Share

The primary reason to make the Subchapter S filing status election is to have a single federal income tax when the business is eventually sold. 

If the corporation is not an S corporation and the company assets are sold, there will be a double tax on sale.  The first tax will be at the corporation level.  A regular or C corporation will pay a tax on the gain on the sale of its assets.  … Continue reading »

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