Any of several portions of the Internal Revenue Code that cover specific areas of taxation(noun)
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Use "subchapter" in a sentence
"Such companies, often called "Sub-Ss" after the subchapter of the tax code governing them, is a popular choice of entity for private firms."
"And since some 4.5 million small-business owners file their annual tax returns as subchapter S firms under the individual tax code, this tax increase would often apply to the same people who Mr. Obama is targeting with his new tax credits."
"If he has a subchapter S corporation, the tax is the same whether they pay out of corporate funds or pay a distribution and pay out of personal funds."