Shareholders of an S-Corporation Are Taxed as If They Were

question 91

True/False

Shareholders of an S-corporation are taxed as if they were owners in a partnership.

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Definitions:

Vicarious Liability

The legal responsibility of one party for the actions of another, typically an employer being liable for the acts of its employees.

Employer

An individual or organization that hires and pays for the services of employees under an expressed or implied agreement, and has the right to control the details of work performance.

Employee

An individual who is hired by a person or business for a wage or salary to perform specific duties.

Acquitted

To be found not guilty of a crime in a court of law, absolving the defendant from the charges.