Choices:

- all corporations/only c corporations/only s corporations

- all corporations/only c corporations/only s corporations are subject to a second layer of taxation/pass through tax free

- c corporation/s corporations partnership/sole proprietorship corporate/partnership/shareholder/sole proprietor

- all corporation/c corporation/s corporation

Compare C and S corporations as to the taxation of the entity and its owners by completing the statements below. All corporations are separate legal entities. For Federal income tax purposes, are taxed on its earnings. If the corporate earnings are distributed to the shareholders, the earnings A corporation that elects S corporation status receives tax treatment similar to that of a with the corporate earnings being taxed only at the level. The qualified business income deduction is available to shareholders