SUBCHAPTER S Definition

Bookmark and Share

SUBCHAPTER S is a legal corporate entity organized under the United States Federal Tax Code that allows Subchapter S Corporations to distribute all income / loss proportionately to its shareholders, who then claim that income / loss on their personal income taxes; thereby avoiding the payment of corporate taxes.

Learn new Accounting Terms

RED-WELLS are when legal records are set up in file folders and file pockets called "red-wells." Clients usually have several matters. Red-wells are usually four-inch filing media in which file folders are inserted. A legal file may have several standard components called "sub-files." These sub-files are normally inserted into red-wells.

FACE VALUE is the value printed or written on the face of a asset, e.g. on a bill or bond.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.