S corporations are
I. always preferable to C corporations
II. not available to less than 10 persons who wish to start them
III. preferable for many closely-held business ventures
IV. taxed like partnerships, thus eliminating corporate level taxation
V. no longer available under the new tax law

Question

S corporations are 
I. always preferable to C corporations
II. not available to less than 10 persons who wish to start them
III. preferable for many closely-held business ventures
IV. taxed like partnerships, thus eliminating corporate level taxation
V. no longer available under the new tax law

Quizplus · Accepted Answer

S corporations are not always preferable to C corporations, and they are not restricted to a minimum of 10 persons. However, they are preferable for closely-held businesses and are taxed like partnerships, which eliminates double taxation at the corporate and individual level. They are still available under the new tax law.

S Corporations Are