In a(n)_____,shareholders directly report their share of the corporation's losses or earnings on their individual tax returns.

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S corporations,or Subchapter S corporations,represent an important variation that should be considered by certain closely held corporations.They are taxed very much like a partnership in that no corporate tax is paid.Instead,shareholders directly report their share of the corporation's losses or earnings on their individual tax returns.

In A(n)_____,shareholders Directly Report Their Share of the Corporation's Losses