Select the best answer. Which of the following statements regarding the characteristics of various entities is false? O A. AC corporation enjoys no special tax status. B. A general partnership is a pass-through entity. The income of a sole proprietorship is taxed to its owner because it has no separate legal C. entity from its owner. O D. State taxability for S corporations makes no distinction between S and C corporations. O Submit Answers

Select the best answer. Which of the following statements regarding the characteristics of various entities is false? O A. AC corporation enjoys no special tax status. B. A general partnership is a pass-through entity. The income of a sole proprietorship is taxed to its owner because it has no separate legal C. entity from its owner. O D. State taxability for S corporations makes no distinction between S and C corporations. O Submit Answers

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation

Section: Chapter Questions

Problem 16DQ

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Select the best answer.
Which of the following statements regarding the characteristics of various entities is false?
O
O B. A general partnership is a pass-through entity.
The income of a sole proprietorship is taxed to its owner because it has no separate legal
entity from its owner.
D. State taxability for S corporations makes no distinction between S and C corporations.
A. A C corporation enjoys no special tax status.
O C.
O
Question Q 13
Submit Answers
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Select the best answer. Which of the following statements regarding various entities is true? O O O A. A business entity with only one owner is classified as a corporation or is disregarded. Question Q 10 B. A disadvantage of a pass-through entity is double taxation. C. By default, an eligible entity that has a single member will be treated as a limited partnership. Partnerships are taxpaying entities, because tax attributes pass through to the individual partners. O D. Submit Answers 100% Complete
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