The S Corporation Rules Were Enacted to Allow Small Corporations

question 63

True/False

The S corporation rules were enacted to allow small corporations to enjoy the nontax advantages of the corporate form of business without being subject to the tax disadvantage of double taxation.

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Definitions:

Heart

A muscular organ in most animals, which pumps blood through the blood vessels of the circulatory system.

Organ

Structure formed by the organization of two or more different tissue types that carries out specific functions.

Small Intestine

A long, coiled section of the digestive tract where most of the digestion and absorption of nutrients occurs.

Stomach

A muscular organ in the gastrointestinal tract that breaks down food through mechanical movements and the secretion of acids and enzymes.