BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The following describes a small corporation that has elected and received favorable tax treatment, and is subject to single taxation of its corporate profits.
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C corporation
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S corporation
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D corporation
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N corporation
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Explanation:
Detailed explanation-1: -Definition. 1 / 56. An S Corporation is like any other corporation formed under state law, except the shareholders have elected to treat it as flow through entity for federal tax purposes. Tap the card to flip
Detailed explanation-2: -A disadvantage of an S corporation is that it can have no more than 50 stockholders. Corporations are by far the most common type of business organization in the United States. There is no limit on the number of partners who can participate in a general partnership.
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