For S Corporations Without Earnings and Profits from Prior C

question 138

True/False

For S corporations without earnings and profits from prior C corporation years, the taxation of cash distributions to the shareholder isgoverned by rules very similar to the rules for partnerships.

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Definitions:

Expert Testimony

Evidence given in a court by a knowledgeable person with expertise in a particular field, to help clarify facts for the judge or jury.

Standard of Proof

The level of evidence required to prove a case in a legal proceeding.

Preponderance of the Evidence

The standard of proof required in most civil cases, meaning that it's more likely than not that the claim is true.

Appellate Courts

Judicial bodies that review and rule on the decisions of lower courts.