Which form of business organization allows shareholders to be taxed as partners while still retaining their limited liability status?

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An S Corporation is a form of business organization that allows shareholders to be taxed as partners, meaning that they only have to pay taxes on their personal income, rather than paying both personal and business taxes. Additionally, they are able to retain their limited liability status, meaning that they are not personally responsible for the debts and liabilities of the business beyond their initial investment. This option is preferable to the other choices because it provides the benefits of both partnership taxation and limited liability protection.

Which Form of Business Organization Allows Shareholders to Be Taxed