To affix one's signature to: signed the letter. 2. To write (one's signature): signed her name to the contract. 3. To approve or ratify (a document) by affixing a signature, seal, or other mark: sign a bill into law.o affix one's signature to: signed the letter. 2. To write (one's signature): signed her name to the contract. 3. To approve or ratify (a document) by affixing a signature, seal, or other mark: sign a bill into law.
S corporation. An S corporation, for United States federal income tax purposes, is a closely held corporation (or, in some cases, a limited liability company or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any federal income taxes.
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. As opposed to a sole proprietor or an LLC, corporations are usually at a lower risk of being audited by the government. 2  The owners and the shareholders of a C corporation have a limited liability towards business debts.