Homework SourseWhich of the following statement regarding c corporation I f
Which of the following statement regarding c corporation I false
C corporation are generally not subject to corporate income tax
C corporation are entities that are separate from their owners for tax purposes
Share holders of C corporation have limited liability
Shareholders of a C corporation are taxed only when the corporation distributes earning and profits
Which of the following statement regarding c corporation I false
C corporation are generally not subject to corporate income tax
C corporation are entities that are separate from their owners for tax purposes
Share holders of C corporation have limited liability
Shareholders of a C corporation are taxed only when the corporation distributes earning and profits
C corporation are generally not subject to corporate income tax
C corporation are entities that are separate from their owners for tax purposes
Share holders of C corporation have limited liability
Shareholders of a C corporation are taxed only when the corporation distributes earning and profits
Solution
Statement a is false
C corporation are subjected to corporate tax and S corporation are not subjected to tax
A C corporation is a business term that is used to distinguish this type of entity from others, as its profits are taxed separately from its owners under subchapter C of the Internal Revenue Code. In an S corporation, the profits are passed on to the shareholders, and are taxed based on personal returns.
