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Subchapter S Corporation
A Subchapter S Corporation is a form of corporation that meets specific Internal Revenue Code requirements, allowing it to pass income directly to shareholders and avoid double taxation.
Corporate Net Income
The amount of profit a company has earned during a specific period after all expenses, taxes, and costs have been subtracted from total revenue.
Proportionate Share
A portion or percentage of an entity or amount that corresponds to an individual's part in the whole.
FMV
Fair Market Value (FMV) is the estimated price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
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