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A company has decided to reclassify their business entity classification. This business will be restricted to 100 shareholders or less and chartered as a corporation

A company has decided to reclassify their business entity classification. This business will be restricted to 100 shareholders or less and chartered as a corporation in the state where it is headquartered. All of the shareholders must sign and file Internal Revenue Service forms.

What is this company's new business entity classification?

Limited liability company

C corporation

Partnership

S Corporation

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