Double taxation-the income tax on corporation earnings

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Reference no: EM131760005

You formed a close corporation to get limited liability for your business activities but you are not pleased with the double taxation – the income tax on the corporation earnings and your income tax on dividends from the corporation. Is there a way that you can avoid the double taxation and still do business as a corporation? Explain what you need to do.

Reference no: EM131760005

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