Kiritsis & Associates
Kiritsis & Associates
Although, typically, a similar (if not identical) underlying legal entity per state laws, not all corporations are treated the same for federal tax purposes.
1. Pass- through tax treatment. Only S Corps are eligible for pass through taxation, with all the taxable profits (or taxable losses!) passing to their shareholders. In contrast, C Corps have to pay taxes at the entity level tax reporting returns.
2. Double taxation. S Corps are not subject to double taxation, because their shareholders are effectively get taxed once at individual level tax reporting returns.
3. Different tax reporting. S Corps file Form 1120S, with their shareholders receiving capital distribution and returns of capital payments, being documented with K-1 forms. C Corps file Form 1120, with their shareholders documenting receipt of dividend payments with 1099 forms.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.
We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
Intellectual Property Disclaimer(s):
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