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Forming an S Corporation

Some business owners prefer to set up an S corporation, which provides liability protection while allowing profits to pass through to the owners’ personal tax returns. This special tax status (its letter refers to subchapter S of the Internal Revenue Code) prevents the double taxation scenario created under a C corporation.

Editor’s Note: This is part four of a five-week series on the various legal structures for your small business. Click here to read part one on sole proprietorships; part two on partnerships ; and part three on C corporations.

By COLLEEN DEBAISE

Full Story: http://online.wsj.com/article/SB10001424052748703580904575131992360333702.html?mod=WSJ_hpp_sections_smallbusiness

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