We have a family business. subchapter s corp. it says in the articles of inc. that it takes 2/3 of shares to amend
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Let’s clear something up. An S-Corporation is not a business entity — it’s a tax election. Both LLCs and C-Corporations can elect to be taxed under Subchapter S — turning them into pass-through entities for federal tax purposes. Yes, that means: Income and expenses flow through to the owner. Only one layer of tax (at the individual level). Potential to reduce self-employment tax by splitting income into wages and distributions. But here’s the thing: That doesn’t mean C-Corps are obsolete. In fac
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