Question: Explain the difference between an S and a C corporation. The profits and losses of the are passed directly to shareholders and are not subject

Explain the difference between an

S

and a

C

corporation.

The profits and losses of the are passed directly to shareholders and are not subject to corporate taxes, while the must first pay taxes on any profits before passing the after

-

tax profits on to sharcholders. In addition, the can have no more than

100

shareholders, al of whom must be U

.

.

citizens or residents. The does not have any such restrictions on its shareholders.

(

Select from the drop

-

down menus

)

Explain the difference between an S and a C corporation. The

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