Identify a true statement about an S corporation.
A. An S Corporation is required to have more than 100 stockholders.
B. An S Corporation is required to have more than one type of stock outstanding.
C. The income of an S Corporation passes through the company to the owners.
D. The income of an S Corporation is taxed twice, at the corporate level and the owner level.
E. The income of an S Corporation is taxed as capital gains to the owners.
Answer: C
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Answer the following statement true (T) or false (F)
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