In Which Form of Business Organization Is the Taxation Effects

question 69

Multiple Choice

In which form of business organization is the taxation effects characterized by the income flowing to shareholders taxed at personal tax rates?

• A)proprietorship
• B)limited partnership
• C)corporation
• D)subchapter S corporation

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Definitions:

Double Jeopardy

A legal principle that prevents an individual from being tried twice for the same offense.

Same Crime

The principle that individuals committing the same offense should receive equal treatment and punishment under law.

Tried Twice

Being subjected to prosecution for the same offense in the same jurisdiction more than once, prohibited under the "double jeopardy" clause of the Fifth Amendment to the U.S. Constitution.

Civil Rights Act

A landmark piece of legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin.