Distinguish between the partnership, S corporation, and C corporation forms regarding the following: a. Incidence of taxation

Question:

Distinguish between the partnership, S corporation, and C corporation forms regarding the following:
a. Incidence of taxation on the organization’s business income
b. Taxation of distributions to owners
c. Application of the conduit and separate entity concepts of taxation
d. Limitation on number and type of owners.

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...

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