S Corps and C Corps have different rules: S Corps: They file an informational tax return using Form 1120S. Each shareholder gets a Schedule K-1, showing their share of the company’s income ...

Consult an attorney in your state to determine the rules that apply to your business. An S corporation may revoke its subchapter S status by either failing to meet the conditions of eligibility ...

The Tax Adviser—the magazine of planning, trends, and techniques—reports and explains federal tax issues to tax practitioners.