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A PC is actually different from an S Corp! I haven't read the article yet but felt the need to reply to this. States also don't have S-corps, they are a construct of the IRS and an LLC or a C-corp can elect to be taxed as an S-corp but it doesn't change their legal entity form. The shareholder limit is 100 and there are a few other nuances but the general idea is that you can elect for your corporation to be taxed as a flow through so as to avoid double taxation.

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