8. Is a current-year net operating loss of a C corporationavailable to offset income from the corporation in other years?Explain. 9. What happens to a C corporation’s net operating losscarryover after 20 years? 10. According to the tax rules, how are profits and lossesallocated to LLC members? How are they allocated to S corporationshareholders? Which entity permits greater flexibility inallocating profits and losses? 11. If limited liability companies and S corporations are bothtaxed as flow-through entities for tax purposes, why might an ownerprefer one form over the other for tax purposes? List separatelythe tax factors supporting the decision to operate as either an LLCor S corporation. Asked Jan. 19, 2017 Attached
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