Posted by David Krulac on February 19, 2001 at 19:05:57:
S corps are pass through to the owners. The corp pays no tax itself. You get the same corporate veil protection as a c corp but not the double taxation.
C corps have some advantages in the area of health insurance and a lower tax rate on the fifty $50k.
Since an S corp is pass through its tax rate is your tax rate. You might also lookat an LLC which is also pass through and in some states costs less to form.
There is no need for a corp seal or meetings,minutes with an LLC, but you need that with both S and C corps.