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Subchapter S

subchapter s n

: a subchapter of chapter 1 of the Internal Revenue Code that allows a small business corporation's taxable income to be computed in a manner similar to that used for a partnership see also S corporation at corporation


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.