.CHAPTER 13 & 12 HWCHAPTER 13Questions:1-21Problems:37, 39, 42, 43, 45, 47, 50#1. What are the principal legal forms for conducting a business entity? What are the principal Federal income tax forms for doing so?#2. Compare C and S corporations as to the taxation of the entity and its owners?#3. What are the advantages of a limited liability company compared to an S corporation?#4. The maximum corporate tax rate of 35% is the same as the maximum rate applicable to individuals (except for certain high-income taxpayers). Consequently, forany additional taxable income, the corporate tax liability will be the same as the individual tax liability. Do you agree? Why or why not?
is different for an individual and for a corporation. The corporate AMT rate is lower, at 20 percent, than the individual AMT rates, which are 26 and 28 percent.
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Corporation, Taxation in the United States, Limited Liability Company, S corporation