Which of the following is not a correct statement regarding the advantage of the partnership entity form over the subchapter C corporate form?
A)A partnership typically has easier administrative and filing requirements than does a C corporation.
B)Partnership income is subject to a single level of taxation; corporate income is double taxed.
C)Partnerships may specially allocate income and expenses among the partners, provided the substantial economic effect requirements are met; corporate dividends must be proportionate to shareholdings.
D)Partners in a general partnership have less personal liability for entity claims than shareholders of a C corporation.
E)All of the above are advantages of partnership taxation.

Question

Quizplus · Accepted Answer

Partners in a general partnership have more personal liability for entity claims than shareholders of a C corporation, who typically have limited liability.

Which of the Following Is Not a Correct Statement Regarding