Philosophical theories on the nature and origins of morality (that is, theories of meta-ethics) are broadly divided into two classes: Moral realism is the class of theories which hold that there are true moral statements that report objective moral facts.
As an S corporation, no corporate income tax would be levied. And when the income gets allocated to individual shareholders, they will probably pay a maximum rate of 40% to 44%. So that would mean around $400,000 to $440,000 in income taxes and then about $600,000 in leftover after tax profit.
In other words, if you're an S corporation shareholder and you receive a $100,000 distribution check from an S corporation in which you own shares, you generally are not taxed on the $100,000. Upon hearing this, some people become confused and say, Well, that's crazy...