If a corporation has S corporation status, it must pay income taxes at the corporate level.

Name: If a corporation has S corporation status, it must pay income taxes at the corporate level.
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Question

If a corporation has S corporation status, it must pay income taxes at the corporate level.​

Quizplus · Accepted Answer

S corporations are pass-through entities, meaning income, losses, deductions, and credits pass through to shareholders, who report them on their personal tax returns, rather than the corporation paying income taxes at the corporate level.

If a Corporation Has S Corporation Status, It Must Pay