Question

How business entities are taxed? Please assign each taxation to the business entity. A Pass-through entity...

How business entities are taxed? Please assign each taxation to the business entity.

A Pass-through entity

B double Tax

C Personally Taxed

Proprietorship

Partnership

LLP

LP

LLC

S Corp

C corp

Business   Accounting   
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Answer #1

Answer :

In Pass-through-entity the income taxes are not paid at corporate level. Income is allocated among the owners of the entity and income taxes are only levied at the individual owners' level.This taxation is followed by Proprietorship, Partnership, LLP, LP, LLC, S Corp.

In Double taxation the tax is paid twice on same Income. This taxation is followed by C corporation.

In Personal taxation the taxes are paid personally by Individuals on their personal income. This taxation is followed by Individuals.

SO,

(A) Pass-through entity = Proprietorship, Partnership, LLP, LP, LLC, S Corporation.

(B) Double Tax = C corporation

(C) Personally Taxed = None of the above.

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