WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

Question

Question

WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS THROUGH TAX TREATMENT

LIMITED LIABILITY COMPANY

LIMITED LIABILITY LIMITED PARTNERSHIP

LIMITED PARTNERSHIP

S CORPORATION

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Correct answer---S corporation

.

An S corporation is required to file for election to be an S corporation to get benefits of a corporation and at the same time get pass through income.

The income of S corporation is divided into its partners and they pay individual taxes.

If no election is done , S corporation will be considered as a normal C corporation

Add a comment

Answer 2

Similar Homework Help Questions

which of the following entities is not considered a foow-through entity? a. limited partnership b. s...

which of the following entities is not considered a foow-through entity? a. limited partnership b. s corporation c. limited liability company (llc) d. general partnership e. none of the choices are correct. all are treated as a flow-through entities
C corporations are not pass through entities like S corporations or LLC's. C corporations are subject...

C corporations are not pass through entities like S corporations or LLC's. C corporations are subject to the double taxation concept on corporate earnings. This is where corporate earnings are taxed at both the entity level and a second time when the earnings are distributed to shareholders in the form of dividends. Let's discuss this double taxation for a moment and put some numbers to it. Let's say that a C corporation has $1,000,000 in taxable income. Under the new...
Which of the following entities is not considered a flow-through entity? Group of answer choices C...

Which of the following entities is not considered a flow-through entity? Group of answer choices C corporation. S corporation. Limited liability company (LLC). Partnership.

TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...

TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
1. Which of the following statements is true? A. An advantage of a partnership is limited...

1. Which of the following statements is true? A. An advantage of a partnership is limited life. B. An advantage to a partnership is unlimited liability. C. A disadvantage of a partnership is that it is difficult to transfer ownership. D. A disadvantage to a partnership is double taxation. 2. Which of the following statements is true? A. A disadvantage of a corporation is limited liability. B. An advantage of a corporation is double taxation. C. An advantage of a...
Which of the following is likely to be a taxpayer who pays federal income tax Select...

Which of the following is likely to be a taxpayer who pays federal income tax Select one: A. Limited liability company B. Corporation not making the S election C. Corporation making the S election D. General partnership

- What are the correct monthly rates for calculating failure to file and failure to pay...

- What are the correct monthly rates for calculating failure to file and failure to pay penalties? A) Failure to file Failure to pay 5.0% 5.0% B) Failure to file Failure to pay 0.5% 0.5% C) Failure to file Failure to pay 5.0% 0.5% D) Failure to file Failure to pay 0.5% 5.0% - The largest source of revenues for the federal government comes from A) corporate income taxes. B) individual income taxes. C) Social Security and...
40. Match the following attributes with the different forms. A particular attribute may apply to more...

40. Match the following attributes with the different forms. A particular attribute may apply to more than one entity form. Clear All S corporation C corporation Ability of all owners to have limited liability. Limited partnership Ability to pass tax attributes through to the owners. General partnership Sole proprietorship
Which of the following is typically considered an advantage of a partnership? A. No license, charter,...

Which of the following is typically considered an advantage of a partnership? A. No license, charter, or agreement legally required B. Can raise money using capital markets (debt and equity) C. Ownership is easier to transfer than it is for a sole proprietorship or corporation D. Joint unlimited liability for company debts E. Most regulated form of business

All of the following are considered pass-through entities EXCEPT: 1 ) Partnerships 2) Tax-exempt organizations 3)...

All of the following are considered pass-through entities EXCEPT: 1 ) Partnerships 2) Tax-exempt organizations 3) Subchapter S corporations 4) Estates and Trusts.

WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

Homework Answers

Add Answer to:
WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

Post as a guest

Earn Coins

which of the following entities is not considered a foow-through entity? a. limited partnership b. s...

C corporations are not pass through entities like S corporations or LLC's. C corporations are subject...

Which of the following entities is not considered a flow-through entity? Group of answer choices C...

TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...

1. Which of the following statements is true? A. An advantage of a partnership is limited...

Which of the following is likely to be a taxpayer who pays federal income tax Select...

- What are the correct monthly rates for calculating failure to file and failure to pay...

40. Match the following attributes with the different forms. A particular attribute may apply to more...

Which of the following is typically considered an advantage of a partnership? A. No license, charter,...

All of the following are considered pass-through entities EXCEPT: 1 ) Partnerships 2) Tax-exempt organizations 3)...

WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

Homework Answers

Add Answer to: WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...

Post as a guest

Earn Coins

Add Answer to:
WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS...