Multiple Choice
Which of the following is true regarding S corporations?
A) They are considered partnerships yet taxed like corporations as long as they follow regulations.
B) They cannot have more than 80 shareholders.
C) Shareholders do not report profit on their personal income tax forms.
D) They are formed under federal law.
E) Income of the corporation is not taxed when it is distributed to shareholders.
Correct Answer:
Verified
Correct Answer:
Verified
Q12: How is a limited liability company formed?<br>A)
Q13: A general corporation may only have up
Q13: Which of the following is responsible for
Q18: Reference - Community Fair. Craig and Melinda
Q19: Which of the following was the result
Q20: For purposes of federal jurisdiction, a limited
Q22: In a limited partnership which of the
Q51: Which of the following is the most
Q66: [Car Repair] Gordon and Leo are partners
Q77: Which of the following is true regarding