mediation. n. the attempt to settle a legal dispute through active participation of a third party (mediator) who works to find points of agreement and make those in conflict agree on a fair result.
Subchapter S (S Corporation) What is a 'Subchapter S (S Corporation)'. A Subchapter S (S Corporation) is a form of corporation that meets specific Internal Revenue Code requirements, giving a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership.
A C corporation is a business term that is used to distinguish this type of entity from others, as its profits are taxed separately from its owners under subchapter C of the Internal Revenue Code.In an S corporation, the profits are passed on to the shareholders, and are taxed based on personal returns. A C corporation can be used to split the corporate profit amongst the owners and the corporation. 2  This can result in overall tax savings. 3  The tax rate for a corporation is usually less than that for an individual, especially for the first $50,000 of taxable income.