Shareholders of S corps have the tax status and advantage of a corporation but non of the protection from liability.

Name: Shareholders of S corps have the tax status and advantage of a corporation but non of the protection from liability.
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Quizplus · Accepted Answer

Shareholders of S corporations do have limited liability protection, similar to shareholders of C corporations, meaning they are not personally liable for the company's debts and liabilities.

Shareholders of S Corps Have the Tax Status and Advantage