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Lydia and Gabbi are forming a business that is not permitted under state law to be organized as anything other than a corporation, but Lydia

Lydia and Gabbi are forming a business that is not permitted under state law to be organized as anything other than a corporation, but Lydia is worried about taxation. Explain (using correct terminology from the course) how corporations are taxed and make a recommendation as to what Lydia and Gabbie should do to minimize the impact of corporate taxation.

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