S corp
Business & Finance abbreviation · Company Type
| Stands for | S corporation |
|---|---|
| Categories | Business & Finance |
S corp stands for S corporation, a company type abbreviation.
US corporation that elects under Subchapter S of the Internal Revenue Code to pass income, losses, deductions and credits through to shareholders for federal tax purposes, avoiding corporate-level income tax. It is a tax status, not a separate type of legal entity.
Example: We converted to an S corp so the owners could take part of their income as distributions instead of salary.
Usage notes
Eligibility rules limit an S corporation to 100 shareholders, who generally must be US citizens or residents, and to a single class of stock. The election is made on IRS Form 2553, and an LLC can also elect S corporation taxation. Also written S-corp.
Related abbreviations
More company type abbreviations
- PLC – Public limited company
- PLLC – Professional limited liability company
- PT – Perseroan Terbatas (limited liability company)
- Pte Ltd – Private limited company (Singapore)
- Pty Ltd – Proprietary limited company
- Pvt Ltd – Private limited company
- S.A. de C.V. – Sociedad anónima de capital variable (variable-capital stock company)
- s.r.o. – Společnost s ručením omezeným / spoločnosť s ručením obmedzeným…
- SA – Société anonyme / Sociedad anónima (public limited company)
- SARL – Société à responsabilité limitée (limited liability company)
- SAS – Société par actions simplifiée (simplified joint-stock company)
- SASU – Société par actions simplifiée unipersonnelle (single-shareholder…