To affix one's signature to: signed the letter. 2. To write (one's signature): signed her name to the contract. 3. To approve or ratify (a document) by affixing a signature, seal, or other mark: sign a bill into law.o affix one's signature to: signed the letter. 2. To write (one's signature): signed her name to the contract. 3. To approve or ratify (a document) by affixing a signature, seal, or other mark: sign a bill into law.
S corporation. An S corporation, for United States federal income tax purposes, is a closely held corporation (or, in some cases, a limited liability company or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any federal income taxes.
Seeking and receiving S corp status obligates you to file an annual tax return. Even though S corps pay no taxes, they must still file a return using Form 1120S to document their profits and losses. Their shareholders are responsible for taxes on any profits, but they can also write off losses.