a relatively new creation in Subchapter S of the
Internal Revenue Code that allows smaller incorporated business to
benefit from a special tax status. The S corporation became a legal
entity in 1958 to help small businesses lower their costs of
incorporation by passing the corporation's profits and losses to
the shareholders' personal tax returns.
Series 65: S Corporation
Taken from our Series 65 - NASAA Uniform Investment Advisor Law Exam
Definition of the term S Corporation...
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