1)in the united states system of income taxation ,the reason shareholders normally have to pay income taxes on dividends distributed by a corporation is because corporations never have to pay income taxes on their profits.

true or false?

2)generally, limited liability companies can choose whether to be taxed(for federal income tax purposes) as either a corporation or as a partnership (or, instead of a partnership, a sole proprietorship if the company has only one owner.

true or false ?

3) in order to be elected a director to a corporate board of directors for a large, publicly traded corporation, the director must own at least one share of common stock issued by that corporation.

true or false ?