Final answer:
A "C" Corporation is the legal entity which is taxed twice, once when revenue is earned and then again when the profits are distributed to the owners.
Step-by-step explanation:
The legal entity which is taxed twice, once when revenue is earned and then again when the profits are distributed to the owners is known as a "C" Corporation.
A "C" Corporation is a type of business structure where the company is considered a separate legal entity from the owners. This means it can earn its own revenue and be taxed on that income. Additionally, when profits are distributed to the owners in the form of dividends, those dividends are also subject to taxation.