List and Discuss Five Advantages and Five Disadvantages of Electing

question 13

Essay

List and discuss five advantages and five disadvantages of electing to be taxed as an S corporation over a C corporation or a partnership.

---

Definitions:

Nucleolus

Somewhat rounded, dense, well-defined nuclear body with no surrounding membrane; contains ribosomal RNA and protein. Plural: Nucleoli.

Endoplasmic Reticulum

An organelle in eukaryotic cells that plays a key role in protein and lipid synthesis and transport.

Nuclear Envelope

Double membrane structure surrounding and enclosing the nucleus.

Chromosomes

Structures made of DNA and protein that contain the genes and are found in the nucleus of eukaryotic cells.