Thread: S corporation & C corporation

Hello people,
I am translating a text that is a kind of survey for enterprises. The first part consist of a list of characteristics in multiple choice. There I found this:

Legal Structure:
Corporation
Partnership
Sole Propietorship
LLC
other

In the form I am translating, "Corporation" is checked and then I see the following:

Corporation type:

• General
• Subchapter S
• Subchapter C

Does anybody know what it means?

Hi Anafe,
Regarding the three different types of corporations, in USA companies can register in different ways for paying taxes:
S corporation or Corporation Subchapter S means that the corporation does not pay any income taxes. Its shareholders pay their corresponding taxes according to the shares they receive from the corporation instead.

C Corporation or Corporation Subchapter C means that both the corporation and the shareholders pay taxes. That is to say the corporation pays taxes according to its incomes and the shareholders also have to pay taxes for the share they receive.

I think "general corporation" means that the coorporation pays taxes for the income of the company.

Regards,

Hi Clarabe, thank you so much!!
It was very clear. I understood everything.
Thanks for giving me such a detailed reply.

Thanks!

You are welcome! Please note that I am not completely sure "general" refers to that. About the other two terms I am quite sure but I found no info about general corporations and I infered that from the context.

See you in future threads!

Hello! It's me again

Does anybody know how these termes are translated? haha
I received a wonderful explanation but I forgot to mention I was also looking for the Spanish version of these words.

Please heeeeeelp!

No, Anafe. Nunca escuché ninguna referencia a eso en español.
Igualmente pienso que "corporación del tipo sección S o C" es una posible traducción.

Sería conveniente que esperes la opinion de alguien más.

Saludos!!