Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Explain the difference between an S and a C corporation. The profits and losses of the are passed directly to shareholders and are not subject
Explain the difference between an and a C corporation.
The profits and losses of the are passed directly to shareholders and are not subject to corporate taxes, while the must first pay taxes on any profits before passing the aftertax profits on to shareholders. In acidition, the can have no more than shareholders, all of whom must be US citizens or residents. The does not have any such restrictions on its shareholders. Select from the dropdown menus.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started