More small business resources available to members
The S corporation is America’s most popular corporate structure, often used by family owned and closely held businesses. S corporations do not pay income taxes. Instead, the corporation’s income and losses are divided among and passed through to shareholders, who include these results on their own income tax returns.
NAFEM recently joined the S Corporation Association to continue increasing the support it provides to members’ small businesses. The Washington, D.C.-based organization is exclusively devoted to promoting and protecting the interests of America’s 4.7 million S corporations.
According to the U.S. Small Business Administration (SBA), a small business is defined as one having $750,000 to $38.5 million in average annual receipts, or a business having a maximum of 250 up to 1,500 employees. The number of employees that classifies a company as a small business is detailed in the North American Industry Classification System (NAICS) codes.
NAFEM members can register for email update from the S-Corporation Association here and follow the organization on Twitter @SCorpAssn.