Which of the following is unique for an S corporation?
A) The profits and losses of an S corporation are not taxed at the corporate level, but shareholders must include these profits and losses on their individual tax returns.
B) The shareholders of an S corporation must include the firm's profit and losses in their individual income taxes even if no money is distributed to them.
C) There is a maximum limit on the number of shareholders for an S corporation.
D) None of the above statements is unique.
Correct Answer:
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