Select one of the following flow-through entities of interest to you: partnership, Subchapter S corporation, or limited liability company (LLC). Assuming there are multiple owners, consider the tax implications for each of the owners in your selected entity. How can the entity limit the tax liability of each of the individual taxpayers? Does an owner have additional tax liabilities if the other individuals within the entity do not pay their taxes?

Give an evaluation of the tax implications of each of the owners in your selected flow-through entity. Provide a rationale to defend your position. Include in your evaluation an analysis of the difference between a partnership, Subchapter S corporation, and LLC, and how a different entity choice might change your evaluation of tax implications.