Mary and Rico plan to establish a retail business that will have outlets in six cities in
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Mary and Rico plan to establish a retail business that will have outlets in six cities in a southeastern state. Because the business probably will generate losses in at least the first three years, they want to use an entity that will pass the losses through to them for both Federal and state income tax purposes. They have narrowed their choices to an S corporation and a limited liability company. Advise Mary and Rico on selecting an entity form.
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South-Western Federal Taxation 2022 Corporations, Partnerships, Estates And Trusts
ISBN: 9780357519240
45th Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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