What specific liabilities, if any, will you be exposed in a corporation.
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I assume you are speaking about a shareholder being personally exposed for some part of the liabilities of a corporation. Limited liability is an important aspect in the formation of a corporation, but whether a corporation is taxed as a "C" or an "S" doesn't change the underlying protection ...
The solution provides four types of situations in which a shareholder in a corporation could be held liable for actions and/or liabilities of the corporation. Two of the four are cited for further information.