Frida and Gregor want to market a new line of fishing gear. To avoid income taxes at the corporate level, they should form

Question

Quizplus · Accepted Answer

An S corporation is a type of corporation that avoids income tax at the corporate level and instead passes through income and losses to shareholders, who report them on their individual tax returns. This would be the best choice for Frida and Gregor to avoid income taxes at the corporate level for their fishing gear business.

Frida and Gregor Want to Market a New Line of Fishing