T M M Inc (TMMI)

[jay14]

thats a good question for your chums, why are asking me, that question?.I will tell you this, the difference of a C corporation vs. S corporation status is all about taxes... I said that many,many years ago. Even the SEC attorney told Larry Panik that,back in 2000!!.So you need to address that question with your chums, Larry Panik or Bruce Hoyt,they know the answer.Income from a C corporation is taxed twice. The corporation pays tax on its net income. Then, shareholders also pay tax on distributions. Income from an S corporation is taxed once at the shareholder level. An S corporation can have no more than 100 shareholders, only U.S. citizens and resident aliens, generally individual shareholders, and a calendar fiscal year. If there are multiple classes of stock, only differences in voting rights are allowed. For most small businesses, these criteria are easy to meet.Usually, C corporations make no sense for small businesses due to double tax on income and on proceeds of sale. Besides, if you incur losses, you want to claim them personally, favoring an S corporation. TAX RULES come into play.......
TMMI TRUDEF moves onward and upward Worldwide!!.