SUBCHAPTER S Definition

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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.

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WITHHOLDING TAX usually refers to those taxes that are withheld from an employee's compensation to account for that individuals tax liability on his/her compensation.

VISION is a concise written statement defining the mid-long term (3-5 year) strategy of the organization. The vision is the summary statement of how the organization wants/intends to be perceived by the world. The statement is external/market oriented, brief (1-3 sentences), and stated in “visionary,” colorful terms. Example: “Become the respected leader in financial services with a focus on end-to-end customer relationships and satisfaction, resulting in optimized balance sheets for our partners.”

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