Examlex
Which of the following statements regarding perpetuities is false?
S Corporation
A special designation of corporation that allows for pass-through taxation, where the corporation's income is taxed at the shareholder level, rather than at the corporate level.
Shareholders
Individuals or entities that own shares in a corporation, giving them a claim on part of the corporation's assets and earnings.
U.S. Citizens
Individuals who possess citizenship of the United States, either by birth or naturalization.
Franchise Agreements
Legal contracts between franchisors and franchisees that outline the terms and conditions for operating a franchise business.
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