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Mark for follow up Question 4 of 50 A corporations business income is taxed in the following way: O The net income earned by the corporation is taxed to the entity Only the board of directors pay tax on the income earned O All corporation n income is passed through to the individual shareholders. The the income. O The income is not taxed at the entity level, and only distributions are taxed t Mark for follow up

Question 4 of 50. A corporations business income is taxed in the following way The net income earned by the corporation is taxed to the entity OOnly the board of directors pay tax on the income earned 0 All corporation income is passed through to the individual shareholders. The individual shareholders pa the income O The income is not taxed at the entity level, and only distributions are taxed to the shareholders.

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Solution: Answer: The net income earned by the corporation is taxed to the entity Explanation: Only in case of election of S-corp, net income is passed and taxed at owners level Income is taxed at entity level and distribution is taxed to the shareholders. It is standardized. No further explanation require.

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