Homework SoursePaul started a business with the following characteristics A
Paul started a business with the following characteristics All shareholders have limited liability , entity is not subject to corporate tax and income and expenses are passed through to shareholders. What type of entity did Paul create
Paul started a business with the following characteristics All shareholders have limited liability , entity is not subject to corporate tax and income and expenses are passed through to shareholders. What type of entity did Paul create
Solution
Paul created a S corporation which passes corporate income and losses through to their shareholders for federal tax purposes.
