An S corporation is treated the same as a regular corporation for tax purposes

Question

Quizplus · Accepted Answer

An S corporation is a type of corporation that elects to pass corporate income, losses, deductions, and credits through to their shareholders for federal income tax purposes. This means that S corporations generally do not pay federal income tax themselves, but instead, shareholders report the income or loss on their individual tax returns. Therefore, an S corporation is not treated the same as a regular corporation for tax purposes.

An S Corporation Is Treated the Same as a Regular