A Subchapter S corporation
A) is similar to a partnership in that it carries unlimited liability.
B) is a separate legal entity which is treated like a normal corporation.
C) has all the organizational benefits of a corporation and its income is only taxed once.
D) all of these.

Question

Quizplus · Accepted Answer

A Subchapter S corporation has all the organizational benefits of a corporation, such as limited liability for its shareholders, but its income is only taxed once like a partnership, which is a great tax advantage.

A Subchapter S Corporation