Which of the following is true of a C Corporation?
A) It does not pay taxes at the corporate level.
B) Shareholders of such a corporation are not required to pay taxes on their dividends.
C) Any corporation with more than 100 shareholders is automatically a C corporation for federal income tax purposes.
D) Nonresident aliens cannot be shareholders unless they demonstrate due diligence in meeting federal requirements for residency status.
Correct Answer:
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