Talk:S corporation
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hello ı am a student ın T.R.N.C. I want to ask a questıon what ıs the benefits of small busıness? —Preceding unsigned comment added by 212.175.149.55 (talk • contribs) on 28 December 2005.
It is my understanding that an S-corporation can have no more than 75 shareholders —Preceding unsigned comment added by 151.205.120.103 (talk • contribs) on 21 May 2006.
100 or more is past the limit —Preceding unsigned comment added by 71.98.164.140 (talk • contribs) on 6 July 2006.
You should take an English or Grammer class. —Preceding unsigned comment added by 170.146.91.6 (talk • contribs) on 11 September 2006.
The limit used to be 75, however, recently, this was changed to 100.
Maybe you should take a class as well. First, the correct spelling is grammar, not grammer. Second, your sentence structure should read:
"The limit used to be 75, however, this was recently changed to 100." —Preceding unsigned comment added by 66.123.228.107 (talk • contribs) on 26 December 2006.
[edit] LLCs
Shouldn't the intro be modified to make clear not all LLCs are S corps? How's this language, "An S corporation or S-corp is a corporation, some limited liability companies, or other ..." —The preceding unsigned comment was added by Have Gun, Will Travel (talk • contribs) 19:26, 23 January 2007 (UTC).
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- Actually, I would argue that the language is merely listing the kinds of entities that could elect to be S corps. Maybe we can come up with some kind of language that makes clear that many LLCs are treated as partnerships for Federal income tax purposes. Stay tuned. Yours, Famspear 19:42, 23 January 2007 (UTC)
[edit] Update for the 2005 S-Corp compliance study
The IRS' 2005 S-Corp Compliance study mentioned in the article is probably of widespread interest, but I was surprised to find no updated information. Apparently, results are expected by June, 2008. I haven't located any significant reports of preliminary results, or any recent references to the study. Here's what I've located.
A document, dated 8/2/07 (with a file name suggesting that it is a final report, see below), entitled
"Reducing the Federal Tax Gap"
can be found at
www.irs.gov/pub/irs-news/tax_gap_report_final_080207_linked.pdf
In this report, a "current" S-Corp study is mentioned in passing. However, the only tax data presented comes from ~2001, and S-Corp info is not separately identifiable. Nothing substantial relevant to the Compliance topic.
Slide #18 from a presentation by Kim M. Bloomquist of the IRS Office of Research, dated 9/17/07 can be found at
http://www.taxadmin.org/fta/meet/07rev_est/papers/Bloomquist.pdf
and indicates that a report from the 2005 S-Corp study should be available June, 2008.
Based on current information, perhaps it is worth adding a statement such as
"Results from this study are expected in June 2008,"
with a reference to the Bloomquist talk.
If anyone has updated information, it would be useful to add a summary and reference(s) to the article's section on Compliance.
Wcmead2 (talk) 01:20, 13 May 2008 (UTC)
