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In doing so, the court is said to pierce the corporate veil. The S Corporation provisions pierce the corporate veil and allow the income to be taxed to the shareholders. The Collapsible Corporation rules also pierce the corporate veil.
Corporations are created to protect the principals from being held personally responsible for the debts and liabilities of the corporation. That protection allows a situation where creditors can lay claim to a corporation's assets, but not the personal assets shareholders of the corporation. In some circumstances, those creditors will attempt to "pierce the corporate veil...
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Common topics in this essay:
- Financial Managers Need Only Concentrate On Meeting The Needs Of Shareholders - No Other Group Matters
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- The IMF is a convenient scapegoat for the failure of politicians to properly manage the economies of their countries
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- dynamics facing the managers of today are different from those facing the managers of Taylor's time
- role of shareholders
- Managers, Management and What Managers Do
- A company is the property of the shareholders is an exploded myth
- A company is the property of shareholders, is an exploded myth
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- Acceptable Accommodation
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