Which of the following is true regarding earnings and profits of an S corporation:Â a.there are...
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Accounting
Which of the following is true regarding earnings and profits of an S corporation:Âathere are no penalties for an S corporation having earnings and profitsÂbthere can be severe penalties for an S corporation having even one or only a few dollars of earnings and profitsÂcearnings and profits cannot result in losing a corporation’s S electionÂdthere is no way to eliminate earnings and profits of an S corporationÂ
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