Purdy-Kresge Library all divisions into one general library. The merger began with the renovation of the General Library which was renamed the Purdy Kresge Library and all services were stationed on the first floor. In September 1969, Purdy passed but his name will live on at Wayne State University. In 1972, the Wayne State Board of Governors supported the renaming of the General Library as the G. Flint Purdy Library because of his dedication to libraries and Wayne State University. The Purdy-Kresge Library is also named after Sebastian S. Kresge. Kresge was the founder of the S.S. Kresge Company. The company started
C corporation known as an S corporation. An S corporation is not itself subject to income tax; rather, shareholders of the S corporation are subject to tax on their pro rata shares of income based on their shareholdings. To qualify to make the S corporation election, the corporation's shares must be held by resident or citizen individuals or certain qualifying trusts. A corporation may qualify as a C corporation without regard to any limit on the number of shareholders, foreign or domestic. In the United States, corporations are formed under laws of a state or the District of Columbia. Procedures vary widely