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Oakland Michigan online IRS 1120S 2025 Form: What You Should Know
Related Materials Forms & Instructions | Form 2553 | Form 1095 | Form 1040 | Form 1040A Questions & Answers on Form 1120-S, U.S. Income Tax Return for an S Corporation (Form 1120-S) What is the difference between an S corporation and a C corporation? In general, an S corporation is an entity that is formed exclusively for the purpose of holding and carrying on qualified business activities with respect to securities. A C corporation, by contrast, is an entity that is, broadly speaking, formed in order to carry on business, other than a qualified business activity involving the sale or distribution of securities. Do certain securities have the same tax treatment as domestic (U.S.) securities? No. A security is treated as belonging to the issuing corporation for U.S. federal income tax purposes if it is the subject of a publicly traded initial public offering, whether such offering is publicly announced. A security is treated as belonging to the issuing corporation for U.S. federal income tax purposes if it (1) is issued by the issuing corporation under a prospectus (including a registration statement), (2) is issued by the issuing corporation on behalf of a participant, (3) is held by a financial institution that is a depository with respect to a deposit account of the issuing corporation if the security is a derivative of a deposit account owned by a financial institution or (4) is issued by the issuing corporation on behalf of an entity in which the issuing corporation has a 10% or greater financial interest. Therefore, securities from an S corporation and securities from a C corporation, whether issued by the issuing corporation or the holding company, may be treated similarly for U.S. federal income tax purposes. What is a Qualified Holding Company (HOC)? A HOC is an entity that is formed exclusively for the purpose of holding and carrying on qualified business activities with respect to securities. What is the difference between a HOC and an S corporation? In general, HOC entities are organized and taxed in the same way as a C corporation, except that they would not receive the net capital gain dividends described in Section 951(a)(1)(B)(i) of the Code. On the other hand, an S corporation is recognized by the Code as being formed in order to carry on a qualified business activity.
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