Suppose the laws of a certain state require the use of either a Subchapter S corporation or

Question:

Suppose the laws of a certain state require the use of either a Subchapter S or a limited in operating an accounting practice. What happens if the U.S. Constitution is amended prohibiting accounting firms from operating as limited partnerships? What options would an existing accounting firm have once the constitution is amended? Would the firm be required to change its method of operation?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...