Organization Forms and Taxation
There are several forms of business organizations. The Internal Revenue Code (IRC) taxes different forms in different ways. The tax implications can sometimes be important enough to determine the choice of the form.
Based on your readings for the module, respond to the following:
- Describe the tax treatments of regular (or C) corporations, S corporations, and limited liability companies (LLCs).
- Compare the tax treatments to identify the similarities and differences.
- From the organization's point of view, what are the implications of the different tax treatments?
Write your initial response in 3-4 paragraphs.