$5.$ One of the main differences between a general partnership and an S corporation is that:

a$.$ A general partnership pays federal income tax but an S corporation does not.

b$.$ A general partnership can have a maximum of $100$ partners but an S corporation can have any number of shareholders.

c$.$ A general partnership provides no liability protection for the partners, but an S corporation$$s shareholders have significant protection from liability.

d$.$ A general partnership has unlimited $($perpetual$)$ life but an S corporation is dissolved upon the death or withdrawal of a shareholder.

e$.$ A general partnership must file articles of incorporation with the state but an S corporation can be formed with an agreement only.