Is it true the Internal Revenue Service allows taxation of certain corporations to be similar to that of partn?
Also it this true in USA "Most states have special incorporation statutes governing nonprofit corporations"
- STEVEN FLv 710 years agoBest Answer
For tax purposes, a 'sub-chapter S' corporation IS a partnership. Corporations that issue shares are organized under 'sub-chapter C'.
The statement that 'Most states have special incorporation statues governing nonprofit corporations.' is technically false. ALL states have such statues.