Examlex
The S corporation rules are less complex for S corporations that have earnings and profits from prior C corporation years than for S corporations that do not have earnings and profits from prior C corporation years.
FDIC
The Federal Deposit Insurance Corporation, a U.S. government agency that insures deposits at banks and savings associations up to a certain limit.
Public Corporation
A corporation that is created by government to help administer law.
Retained Earnings
Profits that a corporation keeps.
Profitable Year
A fiscal period during which a company's revenue exceeds its expenses, resulting in profit.
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