which of the following businesses would be taxed twice?\no the economics one - and - only diner and…
which of the following businesses would be taxed twice?\no the economics one - and - only diner and eatery\no austin & economics paper partnership\no the economics corporation\no the law firm of austin & economics, llp (limited liability partnership)
Answer
Brief Explanations:
Corporations are subject to double - taxation. The business entity pays corporate income tax on its profits, and then shareholders pay personal income tax on dividends received. Partnerships (including LLPs) and sole - proprietorships (like a diner) are pass - through entities where income is taxed only at the owner level.
Answer:
B. The Economics Corporation