When the courts of appeals were created in 1891, one was created for each of the nine circuits then existing, and each court was named the United States Circuit Court of Appeals for the _____ Circuit.
What are the main differences between a C corporation and an S corporation? C corporations are subject to double taxation; that is, one tax at the corporate level on the corporation's net income, and another tax to the shareholders when the profits are distributed. S corporations have only one level of taxation. All of their income is allocated to the shareholders.
Related Ads. The default federal tax status for a single-member limited liability company (SMLLC) is disregarded entity. However, the owner of an SMLLC can elect to have the business taxed as either a traditional C corporation or as an S corporation. An S corporation is a special type of small, closely-held corporation.uy the book Â». An S corporation, like a typical LLC or sole proprietorship (but unlike a traditional corporation), is subject to pass-through taxation. In other words, the responsibility for paying income tax passes through the business to you personally.