Examlex
Change the improper fraction to a mixed number.
De Facto Corporation
A company that operates as if it were legally incorporated, despite not having completed the necessary incorporation processes, and may thus be treated as a corporation in many contexts.
Shareholders
Owners of shares in a company, giving them rights to vote on company matters and receive dividends.
S Corporation
A special designation that allows small businesses to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.
S Corporation
A specific kind of corporation in the U.S. that conforms to certain Internal Revenue Code criteria, which permits it to distribute income directly to its shareholders, thereby bypassing the double taxation issue.
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