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v. t. e. An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1] It may be referred to as the equal ...
t. e. Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters ...
The selling of land as an economic stimulus to non-Indians was a direct result of poor economic conditions that the Menominee had been living in since termination. After successfully stopping the land development, DRUMS later began the fight to reverse termination and regain status as a federally recognized and sovereign Indian tribe.
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An S corporation is a special form of corporation designed for smaller companies. They can only have a maximum of 100 shareholders. Like other corporations, S corps have detailed accounting and ...
The Klamath Termination Act was a 1953 law under the US Indian termination policy. The Klamath tribe along with the Flathead , Menominee , Potawatomi , and Turtle Mountain Chippewa , as well as all tribes in the states of California , New York , Florida , and Texas were targeted for immediate termination by House Concurrent Resolution 108 of 1953 .
Most corporations are, however, incorporated under the influential Delaware General Corporation Law. United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance ...
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