By 1997, more than half of all U.S. corporations were subchapter S corporations reporting their income on individual income tax returns, primarily among the top 1%.
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2.
Even more important, owners of limited liability corporations (LLCs) and subchapter S corporations will see their state income taxes eliminated entirely.
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3.
Now under the agency s glare: Subchapter S corporations, a popular vehicle of choice for many entrepreneurs.