Which statement regarding the taxation of entities is not correct? A. Sole proprietors are subject to self-employment tax on their net earnings, which is both the employer's and the employee's share of Social Security and Medicare tax. B. The corporate income tax rate for C-Corporations is a flat 25% of taxable income. C. S-Corporations are not taxed, and income, deduction, loss and credit items flow through to the shareholders. D. Family Limited Partnerships reduce the income