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Business Glossary
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Definitions for: small business corporation
small business corporation

  1. under Internal Revenue Code section 1244, corporation that enables shareholders to claim an ordinary loss (rather than a capital loss).
  2. subchapter s corporationFor legal purposes, an S corporation is no different than other corporations. For tax purposes, however, an S corporation is apartnership. That is, corporate income and losses pass through the shareholders' individual tax returns. To qualify as an S corporation, a company must meet the following requirements: (1) it cannot have more than 35 shareholders; (2) it cannot have more than one class of stock; (3) it cannot have any nonresident foreigners as shareholders; and (4) it must properly elect S corporation status.

Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.

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Industry Associations

Industry Associations
American Small Business Travel Alliance
Serves small business travelers by providing information and resources. Works with airlines, lodging, technology companies, travel agencies, and other companies that serve small business travelers. Offers travel information, education, networking ...

Dues: travel agency, $50 annual.