81dbc794_on_Terms_to_Know___For_Dummies__What_It_Means
[Term] SubChapter S corporation [What It Means] 
A corporation granted a special tax status as specified under the Internal Revenue Code (IRC). Since this type of corporation pays no income tax, all gains and losses of the corporation pass through to the individual shareholders in proportion to their holdings.
Business Incorporation Terms to Know - For Dummies