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Peter is trying to decide between a C corporation, S corporation, and partnership for his new business. Which of the following is incorrect? A. S

Peter is trying to decide between a C corporation, S corporation, and partnership for his new business. Which of the following is incorrect? A. S corporations pay taxes on their current year income. B. A partner in a partnership is taxed on his or her share of partnership income. C. An S corporation owner must pay income taxes on the salary received and current year income D. A shareholder in a C corporation is taxed on his or her distribution of dividends

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