Double taxation is used in. Select one: a.General partnership b.Limited partnership O c.corporation O d.Sole proprietorship
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Q: QUESTION 31 Which of the following entities are subject to limited liability? Oa. general…
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A: SOLUTION- SOLE PROPRIETORSHIP- THAT FORM OF BUSINESS ENTITY WHICH IS OWNED AND MANAGED BY SINGLE…
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A: A Limited Liability Corporation has owners called member.
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- Which of the following entities is subject to double taxation? A) S Corporation B) Sole Proprietorship CI C Corporation D) Limited Liability Partnership (LLP)#IAS OR #IFRS what accounting standard are use for sole proprietorship? what accounting standard are use for partnership? what accounting standard are use for corporation?What is the difference between the aggregate and entity theory of partnership taxation? Can you please provide two examples of how partnership tax rules reflect the aggregate theory and two examples of how they reflect the entity theory.
- Which of the following statements is true? a. S corporations are typically subject to one level of tax at the corporate level. b. Partnerships are typically subject to one level of tax at the partner level. c. LLCs and LLPs must be taxed as C corporations. d. REITs typically pay tax at the entity level. e. All of the above are true.For Form 1065, ordinary income or loss from other partnerships, estates and trusts, includes all of the following EXCEPT: a) Ordinary income or loss distributed from another partnership whose shares are traded on a securities exchange. b) Ordinary loss distributed to the partnership from an estate. c) Ordinary income distributed from a limited partnership. d) Ordinary income distributed from a partnership that includes a general partner, corporation, and husband and wife entityWhat are the 2 kinds of Partnership as to income taxation purposes?
- Income from an S corporation is calculated in the same way as from a partnership and is reported on the same form. True falseWhich one of the following statements regarding partnership taxation is incorrect? a.Partnership income is comprised of ordinary partnership income or loss and separately stated items. b.A partnership is required to file a return with the IRS. c.A partner's profit-sharing percentage may differ from the partner's loss-sharing percentage. d.A partnership is a tax-paying entity for Federal income tax purposes.For Federal income tax purposes, a distribution from a partnership to a partner is treated the same as a distribution from a C corporation to its shareholders. True False
- Determine whether each characteristic describes a general partnership (GP), limited liability company(LLC), both, or neither. Must pay a business (corporate) income tax.Determine if sole proprietorship, partnership, or corporation. Select all that is applicable between the three forms of business. • tax as personal income of owner • ownership is transferrable • ease of dissolution • owner has unlimited liability • subject to more government regulationwhich of the following statements regarding entities is true ? (a) c corporation is an incorporated entity chartered under federal law (b)an s corporation is a creature of state tax law (c)in a limited liability company none of the members bear personal liability for the debts and obligations of the entity (d)in a limited partnership the partners bear personal liability for the debts and obligations of the partnership