An S corporation
A) is similar to a partnership in that it carries unlimited liability.
B) is a separate legal entity that is treated like a normal corporation.
C) has all the organizational benefits of a corporation and its income is only taxed once.
D) All of the options

Question

Quizplus · Accepted Answer

An S corporation has all the organizational benefits of a corporation, such as limited liability for its shareholders, but its income is only taxed once at the personal income tax level, similar to a partnership.

An S Corporation