In 2011,the U

question 23

Multiple Choice

In 2011,the U.S.federal government collected approximately how much in total tax receipts?

• A)$800 million
• B)$2.5 billion
• C)$5.2 billion
• D)$8.7 billion

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Definitions:

S Corporation

A form of corporation that meets specific Internal Revenue Code requirements, allowing income to be passed through to shareholders and taxed at individual rates.

Shareholders

People or organizations holding stock in a corporation, granting them specific rights and stakes in the business.

Stock

A type of security that signifies ownership in a corporation and represents a claim on part of the corporation's assets and earnings.

Family and Medical Leave Act (FMLA)

A U.S. federal law requiring covered employers to provide employees job-protected and unpaid leave for qualified medical and family reasons.