Which of the following statements about the taxation of partnerships is true?
- Both the partnership and the individuals are taxed for any profits earned.
- Partnerships use corporate tax rates in filing returns.
- Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns.
- None of the above about the taxation of partnerships is true.
- Partnerships are limited in taxes depending on number of partners

Question

11-08-2024
Business

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Which of the following statements about the taxation of partnerships is true?
- Both the partnership and the individuals are taxed for any profits earned.
- Partnerships use corporate tax rates in filing returns.
- Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns.
- None of the above about the taxation of partnerships is true.
- Partnerships are limited in taxes depending on number of partners

Sagot :

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