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Version vom 12. Mai 2026, 17:16 Uhr
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Getting back to the decision of which legal entity to choose, let's take each one separately. The commonest form of legal entity is this business. There are two basic forms, C Corp and S Corp. A C Corp pays tax depending on its profit for this year and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The money flows through to the shareholders who then pay tax on that money. The big difference let me reveal that the 15.3% self-employment tax doesn't apply. So, by forming an S Corporation, small business saves $3,060 for 2010 on a profit of $20,000. The income tax still applies, but I'm sure someone would rather pay $1,099 than $4,159. That are a wide savings.
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