Fitness Workout, Inc., is a small business. Siblings Grady and Heidi, and nine other members of their family, own all of its stock. Currently, the firm's income is taxed at the corporate level and, after being distributed to the family members, at the shareholder level. Can Fitness Workout retain its corporate status but oth?er?wise avoid this double taxation? If so, how?

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The Answer of Fitness Workout, Inc., is a small business. Siblings Grady and Heidi, and nine other members of their family, own all of its stock. Currently, the firm's income is taxed at the corporate level and, after being distributed to the family members, at the shareholder level. Can Fitness Workout retain its corporate status but oth?er?wise avoid this double taxation? If so, how?