A Subchapter S corporation is typically treated like a ________ for federal income tax purposes.

Name: A Subchapter S corporation is typically treated like a ________ for federal income tax purposes.
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A Subchapter S corporation,or S corporation,is a special type of close corporation.It is treated nearly like a partnership for federal income tax purposes.The profits are taxed only at the shareholder level,thus avoiding the double-taxation penalty of incorporation.

A Subchapter S Corporation Is Typically Treated Like a ________