Question: Suppose the laws of a certain state require the use of either a Subchapter S corporation or a limited partnership in operating an accounting practice.

Suppose the laws of a certain state require the use of either a Subchapter S corporation or a limited partnership in operating an accounting practice. What happens if the U.S. Constitution is amended prohibiting accounting firms from operating as limited partnerships? What options would an existing accounting firm have once the constitution is amended? Would the firm be required to change its method of operation?

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