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Revision as of 15:28, 22 September 2026
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The most prevalent form of legal entity is the business. There are two basic forms, C Corp and S Corp. A C Corp pays tax by its profit for anjing 4 seasons and then any dividends paid to shareholders likewise taxed. Hence the term double-taxation. An S Corp however works differently. The S Corp pays no tax on profits. The profit flows by way of the shareholders who then pay tax on cash. The big difference let me reveal that the 15.3% self-employment tax does not apply. So, by forming an S Corporation, your business saves $3,060 for 2010 on income of $20,000.
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