In at least two paragraphs, knowing what you have studied so far in this course, which flow$-$through entity type would you choose for a new business $-$ partnership or S corporation? Compare the various legal, nontax, and tax characteristics of partnerships and S corporations specifically using the table at the end of Chapter $15$ and any other resources you use to formulate your response, as long as you document where you found your information. Consider flexibility, complexity, Section $199$A$,$ and ownership differences, among others. Does the recent tax reform legislation influence your decision? Provide enough detail$/$information so that your classmates can provide a response.