The Choice of a Flow-Through Entity for a Closely-Held Corporation

question 58

Short Answer

The choice of a flow-through entity for a closely-held corporation often is between a(n)____________________ (a Federal tax entity)and a(n)____________________ (a state tax entity).
S corporation,limited liability company

---

Definitions:

Prague, Czechoslovakia

The capital city of the former Czechoslovakia, known for its historic architecture and cultural significance.

Sgt. Pepper's Lonely Hearts Club Band

An influential album by The Beatles released in 1967, known for its innovative music and cultural impact.

Psychedelic

Psychedelic refers to substances that produce alterations in perception, mood, and thought, often used in the context of certain drugs like LSD that can induce vivid visuals and a sense of expanded consciousness.

Grape Strike

A notable labor protest by farm workers in California during the 1960s, primarily led by Cesar Chavez, aiming for improved working conditions and wages for grape harvesters.