The form of business ownership that involves double taxation and limited liability for the owners is the
A) corporation.
B) sole proprietorship.
C) limited partnership.
D) Subchapter S corporation.
E) partnership.

Question

Quizplus · Accepted Answer

Corporations are subject to double taxation, where the company's profits are taxed at the corporate level, and dividends paid to shareholders are taxed again at the individual level. Additionally, corporations provide limited liability protection to their owners, meaning owners are typically not personally responsible for the business debts and liabilities.

The Form of Business Ownership That Involves Double Taxation and Limited