Alan Waung, a Hong Kong businessperson, purchased a golf course in Saginaw, Michigan, as an investment. As an avid golfer, Alan anticipates spending several weeks during the year at his “Northern Pines” course. He has been informed that a Subchapter S corporation would allow him and his family-member shareholders to be treated as partners for U.S. tax purposes while retaining the limited liability of the corporate form. Advise Mr. Waung on this matter. What form of business organization would you recommend?
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