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25-03-2024
Business

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A corporation is a separate legal entity for most purposes. A significant issue is whether it is also separate from its owners for tax purposes. Which of the following is true?
1) A corporation is always considered separate from its owners for tax purposes.
2) A corporation is never considered separate from its owners for tax purposes.
3) Whether a corporation is considered separate from its owners for tax purposes depends on certain factors.
4) The issue of whether a corporation is separate from its owners for tax purposes is irrelevant.

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