Question

Which of the following statements is CORRECT? Sole proprietorships are subject to more regulations than corporations. In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner. Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones. Corporations of all types are subject to the corporate income tax.

Answer 1

Sole proprietorship and partnerships generally have a tax advantage over many corporations, especially large ones.

Step-by-step explanation:

Corporation face fewer regulations than Sole proprietorship.

In any partnership every partner is liable for their share of rights, privileges, and liability exposure.

An S Corp and C Corp are not taxed the same.