What is an S Corporation Election?

An S Corporation is different than a C-Corporation because it is limited in the number of shareholders it may have.  Also, rather than being taxed as a separate entity the profits/losses are “passed through” to the shareholders’ personal tax returns

What is a Non-Profit Corporation or 501(c)3

This tax-exempt type of formation is used by charitable, educational, and religious organizations to operate without generating profits. Revenue received is retained in the entity to spend on the stated cause of the entity.