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If a business is formed as an S corporation, its income may be subject to double taxation.
Maintenance
The routine care and servicing by personnel for the purpose of maintaining equipment or facilities in satisfactory operating condition.
Operating Lease
A lease agreement that allows for the use of an asset but does not convey rights of ownership of the asset.
Financial Lease
A long-term lease agreement that allows the lessee to use an asset while essentially assuming both the risks and benefits of ownership.
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