S corporations definition

S corporations means "S corporations" as defined in Section 1361(a) of the Internal Revenue Code. Stockholders of a corporation qualifying as an "S corporation" under this chapter may elect to treat such qualification as an initial qualification under Subchapter S of the Internal Revenue Code Sections.
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S corporations shall have the meaning set forth in Section 2.5.
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S corporations has the meaning set forth in the recitals.
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Examples of S corporations in a sentence

  • Gen- erally, only one ESBT election is made for the trust, regardless of the number of S corporations whose stock is held by the ESBT.

  • If a QSub election terminates because the S corporation becomes a member of a consolidated group (and no election under section 338(g) is made) the prin- ciples of § 1.1502–76(b)(1)(ii)(A)(2) (relat- ing to a special rule for S corporations that join a consolidated group) apply to any QSub of the S corporation that also becomes a member of the ▇▇▇▇▇▇▇- dated group at the same time as the S corporation.

  • However, if the ESBT holds stock in multiple S corporations that file in different service centers, the ESBT election must be filed with all the relevant service centers where the corporations file their income tax returns.

  • The provisions of N.J.S.A. 52:25-24.2 applies to all forms of corporations and partnerships, including, but not limited to, limited partnerships, limited liability corporations, limited liability partnerships, and Subchapter S corporations.

  • Notwithstanding the foregoing, the STOCKHOLDERS shall file or cause to be filed all separate federal income tax returns (and any state and local tax returns filed on the basis similar to that of S corporations under federal income tax rules) of any Acquired Party for all taxable periods that end at or before the Effective Time.

  • The Attorney General has concluded that the provisions of N.J.S.A. 52:25-24.2, in referring to corporations and partnerships, are intended to apply to all forms of corporations and partnerships, including, but not limited to, limited partnerships, limited liability corporations, limited liability partnerships, and Subchapter S corporations.

  • Notwithstanding the foregoing, the STOCKHOLDERS shall file or cause to be filed all separate federal income Tax Returns (and any State and local Tax Returns filed on the basis similar to that of S corporations under federal income Tax rules) of any Acquired Party for all taxable periods that end on or before the Funding and Consummation Date.

  • S corporations must not enter an exempt payee code because they are exempt only for sales of noncovered securities acquired prior to 2012.

  • For taxable years be- ginning after 1981, section 1375(a) im- poses a tax on the income of certain S corporations that have passive invest- ment income.

  • Under Code Section 469, individuals, S corporations and certain closely-held corporations generally are able to deduct "passive activity losses" in any year only to the extent of the person's passive activity income for that year.

Related to S corporations

  • S corporation means a person that has made an election under subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code for its taxable year.

  • Subchapter S Corporation (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of stock of Borrower, or (d) purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Gas Corporation means the same as that term is defined in Section 54-2-1.

  • Affiliated group of corporations means an affiliated group as defined in section 1504 of the Internal Revenue Code, except that, if such a group includes at least one incumbent local exchange carrier that is primarily engaged in the business of providing local exchange telephone service in this state, the affiliated group shall not include any incumbent local exchange carrier that would otherwise be included in the group.

  • Nonprofit corporation means that term as defined under section 108 of the nonprofit corporation act, 1982 PA 162, MCL 450.2108.