1. Two individuals, A and B want to form a new business venture, invest $5,000 each in it, and raise additional capital of $10 million from either a handful or thousands of investors. Discuss the CCorporation and S Corporation alternatives for taxing the business income that might be earned by such venture. Which of these requires the business entity to pay tax on the income earned by the business? Which of these requires the entitys owners to pay tax on the income earned by the entity? Discuss and consider tax rates, distributions, operating losses and A and B shareholder loans under each alternative.