Which of the Following Is True About an S Corporation

question 52

Multiple Choice

Which of the following is true about an S corporation?

• A) It has the same legal characteristics as any other corporation except for the issue of taxation.
• B) It is the official designation for a corporation with 500 or less employees.
• C) It is the same as any other corporation except for management participation by stockholders.
• D) It is exactly the same as any other corporation.
• E) It need not file an information return with the IRS since it does not pay any taxes.

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