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To: willcousa who wrote (124725)	1/11/2001 11:06:14 PM
From: Elmer	Respond to of 186894

Re: "S Corps are taxed like partnerships so that income and deductions pass through to the owners tax returns on a real time basis. C corps. generally are not taxed until profits are distributed to the owners with the big, bad exception for what are called personal holding companies" As I said in a previous post, I ran a "C" Corp that was in the business of trading and other forms of investing. Profits are taxed on the corporate level, whether or not you distribute them. If you distribute the income as dividends, they are taxed again(there are other ways of pulling money out but that's another discussion). The issue of being a personal holding company does not come into play unless the majority of the income (I thing it was 60% or more) is from dividends and interest. You might want to look into Nevada Corporations if you are serious about following this. EP