The chalcogens (/ËkÃ¦lkÉdÊÉªnz/) are the chemical elements in group 16 of the periodic table. This group is also known as the oxygen family. It consists of the elements oxygen (O), sulfur (S), selenium (Se), tellurium (Te), and the radioactive element polonium (Po). The chemically uncharacterized synthetic element livermorium (Lv) is predicted to be a chalcogen as well.
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.
But the paragraphs also describe some of the other, more subtle benefits of S corporation status. First, however, a quick clarification: An S corporation isnât really a corporation. Rather, an S corporation is a corporation or a limited liability company thatâs made a Subchapter S election. People (tax accountants included) call these entities that have made the election âS corporations.â