1.

Gloria and Stanley are starting up Johnson Air. If they choose a corporation, what will be one of the advantages they will have?

It will be easy to form Johnson Air.

They will have limited liability.

Johnson Air will be a flow-through tax entity.

They will only have to incur a small expense to form Johnson Air.

2.

Yvonne is incorporating her business, YES! Surf Shop. YES!'s headquarters will be in Cincinnati. Business will be conducted in California, Washington, Florida, and South Carolina. Yvonne:

can incorporate the business in any state.

must incorporate in Delaware because that is where other corporations are located.

must incorporate the business in California, Washington, Florida, & South Carolina where she is doing business.

must incorporate the business in Ohio, where her headquarters are located.

Answer rating: 100% (QA)

1 Advantages of Choosing a Corporation If Gloria and Stanley choose a corporation one of the advanta... View the full answer