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Discussion of Taxation

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What is the major tax advantage of the corporate form of organization?

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This solution explains the major tax advantage of the corporate form of organization. A thorough discussion is provided.

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The main advantage from a tax standpoint to a corporation deals with "S" corporation status. Any corporation can elect "S" corporation status and by doing so, pay less in taxes. First of all, the corporation is able to deduct employment taxes (FICA and Medicare) from wages paid to shareholders, as long as those shareholders are also officers of the corporation. This creates an automatic ...

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