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Citizen
A legally recognized subject or national of a state or commonwealth, either native or naturalized.
Double Taxation
The levying of tax by two or more jurisdictions on the same declared income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes).
S Corporation
A special designation that allows corporations to pass income, losses, deductions, and credits through to their shareholders for federal tax purposes.
C Corporation
A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.
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