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what is closely held corporation, a personal holding company, and a personal service corporation? what are S Corporations? advantages and disadvantages of S Corporations. example

what is closely held corporation, a personal holding company, and a personal service corporation?
what are S Corporations? advantages and disadvantages of S Corporations. example of a type of business suitable. May corporations be formed as S Corporations or no? Please explain and include information on S Corporation Election. thank you

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