FICA tax is a tax that is paid both by the employer and the empleorye 8) Maywood, Inc. withholds $720 from Steve's paycheck fow company's payroll tax expense. federal income tax. Thil yet ot Tory_ ing is a list of advantages and disadvantages of the corporate characteristic as either an advantage (A) or a disadvantage (D) Corporate Characteristic Entity has continuous life. form of buskiness. Identily eacth Advantage (A) or Disadvantage (D) Exposure to double taxation is evident. Governm ent regulation is expensive. Transfer of ownership is easy. 10) Which of the following statements is true of a corporation? A) Shareholders can be required to pay debts of the corporation. B) Shares of stock cannot be readily purchased and sold by investors on an organized s C) Shareholders are authorized to sign contracts or make business commitments on b corporation. D) Corporations pay income tax on corporate earnings, and shareholders pay incom dividends received