small business corporation
- It refers to a corporation, specified under section 1361 of the Internal Revenue Code, that has no more than 35 shareholders, only one kind of stock, and the option, if eligible, to choose to become an S corporation, which can affect its taxation
- The investor decided to invest in the small business corporation due to its potential for growth.
- Due to the eligibility to elect as an S corporation, the small business corporation benefited from advantageous taxation.
- The lawyer advised his client to turn his enterprise into a small business corporation for tax benefits.