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An S Corp, also referred as the subchapter or small business corporation, is an elected corporation that passes the corporation’s income, deductions, credits and loss to their shareholders for federal tax purposes.It is a tax code that was enacted into law by Congress in 1958. The main advantages of S Corp companies are that shareholders can avoid double taxation unlike C-Corp on corporate income.The S Corp was created to encourage and support the creation of small and family businesses.
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Par value is a nominal dollar amount given to corporate shares. It doesn't necessarily reflect their real value, and is typically set at a low value. The par value of a share is the minimum price at which it may be sold to shareholders, and the par value must be the same for all shares of the same class. The shares can be sold to the initial shareholders, at par value or more, but the price must be the same for each share.
A business entity made up of individuals, but having its own legal character, a corporation comes into existence when articles of incorporation are filed in your state of choice. Once it's formed, your corporation will be legally able to negotiate deals, maintain assets, enter into and defend itself against lawsuits, and more. One of the corporation's defining features is that it personally protects its owner from liability against corporate debts.