What business entities are "pass through" entities for tax purposes?

Corporations electing S Corporation status, limited lability companies electing S Corporation status, limited liability companies electing to be taxed as a partnership, and partnerships, are all "pass through" entities. The first three provide limited liability for the owners of the business; i.e., the owners are not personally liable for the debts of the business. In contrast, the partners in a general partnership are personally liable for the debts of the business.

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