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Which statement best describes the concept of the double taxation of corporation income?
Which statement best describes the concept of the double taxation of corporation income?
a. Subject to two levels of taxation: regular tax and the alternative minimum tax
b. Corporate income is taxed twice at the corporate level: first when earned and than a second time of appreciated property is distributed to shareholder
c. Corporate income is taxed when a earned by a C corporation and than a second time at the shareholder level when distributed as a dividend
d. Corporate income is subject to two levels of taxation: at the federal level and a second time at the state level
