Federal PATH ACT Provides Planning Opportunities with Permanent Extensions of Many Tax Incentives
After years of routine temporary extensions, Congress has made permanent a number of previously temporary tax breaks for individuals and businesses as well as extending others. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act), signed into law by President Obama in December, opens the door to new planning opportunities.
Can an S corporation own an interest in another business entity?
An S corporation may own an interest in another business entity.
An S corporation can be a member of an affiliated group by owning 80 percent or more of the stock of a C corporation. The group then can elect to file on a consolidated basis, if other affiliated group rules are met. But the S corporation itself cannot join the consolidated group.
Although in general only individuals can be shareholders in an Click to Access Video or Read More