In a(n) ______, shareholders directly report their share of the corporation's losses or earnings on their individual tax returns.
A) S corporation
B) trust
C) franchising agreement
D) corporation

Question

Quizplus · Accepted Answer

S corporations, or Subchapter S corporations, represent an important variation that should be considered by certain closely held corporations. They are taxed very much like a partnership in that no corporate tax is paid. Instead, shareholders directly report their share of the corporation's losses or earnings on their individual tax returns.

In A(n) ______, Shareholders Directly Report Their Share of the Corporation's