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Domestic for Profit Corporation Texas Form

Domestic for Profit Corporation Texas Form

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one of the many benefits of electing S corporation or S Corp status for your limited liability company or Corporation is the opportunity to take S Corp distributions distributions are a company's profits passed through to its owners or shareholders and the best part is they aren't considered wages so they aren't taxed as wages because of this the s-corp distribution tax rate is much lower than the tax rate or salary this video guide will help you understand the purpose of distributions the ins and outs of taking distributions from your S Corp and how the IRS taxes them but if you've just started thinking about starting an S corp and aren't sure where to begin check out our how to start an S corp guide linked below now before we break down S Corp distributions let's take a moment to understand what an S corp is what is an S corp an S corporation is a tax designation used by LLCs and corporations businesses typically elect for S Corp status

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