Definition of S corporation
US law
: a small business corporation that is treated for federal tax purposes as a partnership
Because MDY is an S corporation, all net income is considered the owners' taxable income.— Jill Andresky Fraser
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“S corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/S%20corporation. Accessed 7 Mar. 2021.
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The first known use of S corporation was in 1960
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