Olivia and Liam have heard complaints from fellow business owners about the tax burden they face due to their company’s business structure. What form of business ownership may involve double taxation? (1 point) Responses Sole proprietorship Sole proprietorship Partnership Partnership Corporation Corporation S corporation.

Answer 1

The form of business ownership that may involve double taxation is Corporation. In a traditional corporation (often referred to as a C corporation), the company itself is taxed on its profits, and then shareholders are also taxed on any dividends they receive, leading to double taxation.