S corporation

noun

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

Examples of S corporation in a Sentence

Recent Examples on the Web
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Under the proposal, partners and S corporation shareholders who actively participate in their business and have individual taxable income over $400,000 would have to pay an additional net investment tax not currently assessed, which would be 5% under the Harris proposal (currently 3.8%). Lynn Mucenski Keck, Forbes, 9 Oct. 2024 Is your business an S corporation or C corporation? Karla Dennis, Forbes, 1 Oct. 2024 Due date for 2023 calendar year partnership returns (Forms 1065) and S corporations (Forms 1120-S) filed on extension. Kelly Phillips Erb, Forbes, 14 Sep. 2024 Calendar-year partnership and S corporation returns normally due on March 15, 2024. Robert W. Wood, Forbes, 27 Mar. 2024 Calendar-year partnership, corporation, fiduciary and S corporation returns, which were previously due March or April 15 — for federal and state alike. Roxana Popescu, San Diego Union-Tribune, 27 Feb. 2024 In addition, special rules for partners and certain S corporation shareholders allow businesses to reimburse their owners for Medicare premiums. Margie Zable Fisher, Fortune Well, 24 Aug. 2023 The S corporation takes a deduction as wage expense for the amount of premiums paid or reimbursed. Vlad Rusz, Forbes, 23 Mar. 2023 This includes taxes from individuals and from sole proprietorships, partnerships, S corporations and limited liability companies that file business income on personal tax returns. Kathleen Pender, San Francisco Chronicle, 2 Mar. 2023

Word History

First Known Use

1960, in the meaning defined above

Time Traveler
The first known use of S corporation was in 1960

Dictionary Entries Near S corporation

Cite this Entry

“S corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/S%20corporation. Accessed 7 Nov. 2024.

Legal Definition

S corporation

see corporation

Last Updated: - Updated example sentences
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