Expects to be in a marginal tax bracket of 30% for each year. Assume the corporate rate is 21%.

What are the tax and nontax advantages and disadvantages of a flow-through entity and corporate entity?

\begin{tabular}{|c|c|c|} \hline Year & Taxable Income & Distribution \\ \hline 1 & 45000 & 0 \\ \hline 2 & 15000 & 5000 \\ \hline 3+ & 60000 & 10000 \\ \hline \end{tabular}