Carl,Anne,and Al were friends in college.After graduation they decided to open a computer consulting business.They each have $20,000 to put into the business,and want equal shares of the business.However,they are worried about liability,because they heard of a consultant who crashed a client's computer and was sued for $1,000,000.They also want to avoid double taxation.The most likely form of business organization for them would be a

Question

Quizplus · Accepted Answer

A Subchapter S corporation would allow them to have equal ownership while also providing liability protection and avoiding double taxation.

Carl,Anne,and Al Were Friends in College