Divorce, bankruptcy, and death ultimately result in taxable S corporation distribution for surviving shareholder.

However, adopting the S corporation election could be one way to manage this burden effectively. By partitioning income into a reasonable salary and distributions, entrepreneurs can potentially ...

There is unlimited liability of the owner. · Distributions to the owner are nontaxable. The major attributes of an S corporation are as follows: · The net business income is passed through to ...

Prior to 2007, only S Corporation distributions were subject to the SIT. Starting in 2007, however, the City amended its SIT regulation to tax shareholders of S Corporations on their pro rata ...