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.
1 There can be additional state taxes for S corps. 2  Shareholders should pay attention to paying themselves a reasonable salary for the work they perform for the S corp, since the IRS is increasingly scrutinizing S corps for this.