Identify a true statement about an S corporation.

The income of an S Corporation is taxed as capital gains to the owners.

A. An S Corporation is required to have more than one type of stock outstanding.

B. An S Corporation is required to have more than 100 stockholders.

C. The income of an S Corporation is taxed twice, at the corporate level and the owner level.

D. The income of an S Corporation passes through the company to the owners.