This guide is based on scientific. research on reading and reading instruction, as well as on studies of successful. schools and interviews with successful principals. The most important goal of reading instruction in elementary school is to. help students acquire the skills and knowledge they need to read grade-level.
C Corporations and S Corporations. C corporation and S corporation business owners are required to file their income tax returns on the 15th day of the third month after the end of the tax year. For calendar-year corporations, the return is due by March 15.
Differences between a C and S corporate structure: A C Corporation files a standalone tax return and pays taxes at the corporate level. Losses may be carried forward or backward. The maximum tax rate for a corporation is currently 35%. An S Corporation files a tax return but the profit or loss passes through via Form 1120S K-1 to the individual income tax return. The tax liability and the taxes are assessed and paid at the individual level. The maximum tax rate is 39.6%. Losses sustained in an S Corporation are applied to other income to reduce the tax liability of the shareholder. Owners in a C Corporation cannot arbitrarily draw funds the way a sole proprietor or partner in a partnership is able to do.