A corporation whose income is taxed through its shareholders rather than through the corporation itself.
? Only corporations with a limited number of shareholders can elect S-corporation tax status under Sub-chapter S of the Internal Revenue Code.
¡ª Also termed subchapter-S corporation; tax-option corporation. Cf. C corporation. [Cases: Internal Revenue 3885¨C3903. C.J.S. Internal Revenue ¡ì¡ì 374¨C379.]
What is the legal equivalence of S corporation in Chinese?
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