8. A number of tax and nontax factors should be considered in choosing the type of passthrough entity through which to operate a new business. For each of the following considerations, indicate whether the item favors the partnership form or the S corporation form of passthrough entity: a. State taxes, including franchise tax and potential entity-level income taxes. b. Flexibility of income and loss sharing arrangements. c. Complexity in the application of the relevant tax statutes. d. Liability for self-employment tax on allocable shares of the entity's ordinary business income.