Maverick and Goose are brothers who would like to start a business training pilots in their new business venture, Top Flight Aviation Company. Maverick and Goose would each own 50% and would contribute equal cash and assets to the business. They are concerned about how to structure the entity and need your help answering a few questions. In the following boxes, indicate if the situation or question applies to a partnership, S corporation, and/or C corporation by answering yes or no. A B C D Partnership S corporation C corporation 1 Is there a maximum number of owners for this entity type? 2 Generally, is the entity subject to tax? 3 Is the income generated subject to self-employment tax? 4 Is the formation of the entity typically a taxable event? 5 If an operating loss is not deductible at the entity or owner level, can it be carried forward? 6 Do the passive loss rules apply to the deductibility of losses? 7 Can organizational expenses of up to $5,000 be deducted immediately in some circumstances? 8 Is the entity or owner possibly subject to alternative minimum tax? 9 Is there a restriction on choice of tax year? 10 Is the