The structure has been delivering tax savings to advisory practices and other professional services firms for decades. But ...

T o be an S corporation, a corporation must make a subchapter S election by no later than the fifteenth day of the third month of the taxable year for which the election is to be effective. If the ...

Action Item: The City of Philadelphia is imposing its School Income Tax on City residents’ Subchapter S Corporation income, whether or not distributed. This is a departure from prior enforcement ...