The Jobs Act-Tax Update

The American Jobs Creation Act of 2004, signed into law Oct. 22, made some key changes to the S Corporation rules. As David A. Handler, in the Chicago office of Kirkland & Ellis LLP, reports: Internal Revenue Code Section 1361(b)(1)(A) provides that an S corp. may not have more than 75 shareholders. The Jobs Act amended this provision to increase the maximum to 100. The act also amended IRC Section

Rorie M. Sherman | Dec 01, 2004

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The American Jobs Creation Act of 2004, signed into law Oct. 22, made some key changes to the S Corporation rules. As David A. Handler, in the Chicago office of Kirkland & Ellis LLP, reports: Internal Revenue Code Section 1361(b)(1)(A) provides that an S corp. may not have more than 75 shareholders. The Jobs Act amended this provision to increase the maximum to 100.

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