The protein phosphatase 2A holoenzyme is composed of one catalytic C subunit, one regulatory/scaffolding A subunit, and one regulatory B subunit. The core enzyme consists of A and C subunits only. The A and C subunits both exist as two closely related isoforms, ␣ and . The B subunits belong to four weakly related or unrelated families, designated B, B , B؆, and Bٟ, with multiple members in each family. The existence of two A and two C subunit isoforms permits the formation of four core enzymes, A␣C␣, A␣C, AC␣, and AC, and each core enzyme could in theory give rise to multiple holoenzymes. Differences between C␣ and C in expression and subcellular localization during early embryonic development have been reported, which imply that C␣ and C have different functions. To address the question of whether these differences might be caused by enzymatic differences between C␣ and C, we purified six holoenzymes composed of A␣C␣ or A␣C core enzyme and B subunits from the B, B , or B؆ families. In addition, we purified four holoenzymes composed of AC␣ or AC and B ␣1 or B؆/PR72. The phosphatase activity of each purified form was assayed using myelin basic protein and histone H1 as substrates. We found that C␣ and C have identical phosphatase activities when associated with the same A and B subunits. Furthermore, no difference was found between C␣ and C in binding A or B subunits. These data suggest that the distinct functions of C␣ and C are not based on differences in enzymatic activity or subunit interaction. The implications for the relationship between the structure and function of C␣ and C are discussed.