Corporation with a limited number of stockholders (35 or less) that elects not to be taxed as a regular corporation and meets certain other requirements. Income is taxed as direct income to the shareholders. Shareholders include, in their personal tax returns, their pro-rata share of capital gains, ordinary income, tax preference items, etc.
Subcontract
Work done for the general contractor or owner by specialists in certain fields, such as plumbing, roofing, electrical, etc.
Subcontract bids
Bids that are given in an effort to obtain a job doing work for the general contractor or owner by specialists in certain fields, such as plumbing, roofing, electrical, etc.
Subcontractor
Specialists in the construction business who are hired by the general contractor. These would include roofers, plumbers, electricians, etc.
Subcooled liquid
Liquid refrigerant which is cooled below its saturation temperature.
Subdivider
One who partitions a tract of land for the purpose of selling the individual plots. If the land is improved in any way, the subdivider becomes a developer.
Subdividing
The act of dividing a tract of land into smaller tracts.
Subdivision
Property that is divided, from a large parcel, into smaller pieces.
Subfloor
A rough floor - plywood or boards - laid over joists and on which an underlayment or substrate is installed.
Subgrade
(1) Compacted soil that is ready for a structure or slab. (2) The elevation found at the bottom of a pipe trench. (3) Below grade soil level.
