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27 May, 05:40

Why do so proprietorships and partnerships pay relatively lower taxes than other types of business organizations

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  1. 27 May, 06:20
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    An LLC also known as a Limited Liability Corporation is a type of business often pays similar taxes as that of a sole proprietorship or a partnership depending on whether there are one or more members. An LLC is normally formed by one or more people and they are given an EIN number which is their business ID number whereas a sole proprietor will use their social security number as their business ID number.
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