Which of the following statement regarding c corporation I false C corporation a

Question

Which of the following statement regarding c corporation I false C corporation are generally not subject to corporate income tax C corporation are entities that are separate from their owners for tax purposes Share holders of C corporation have limited liability Shareholders of a C corporation are taxed only when the corporation distributes earning and profits Which of the following statement regarding c corporation I false C corporation are generally not subject to corporate income tax C corporation are entities that are separate from their owners for tax purposes Share holders of C corporation have limited liability Shareholders of a C corporation are taxed only when the corporation distributes earning and profits C corporation are generally not subject to corporate income tax C corporation are entities that are separate from their owners for tax purposes Share holders of C corporation have limited liability Shareholders of a C corporation are taxed only when the corporation distributes earning and profits

Explanation / Answer

Statement a is false

C corporation are subjected to corporate tax and S corporation are not subjected to tax

A C corporation is a business term that is used to distinguish this type of entity from others, as its profits are taxed separately from its owners under subchapter C of the Internal Revenue Code. In an S corporation, the profits are passed on to the shareholders, and are taxed based on personal returns.

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