Ask Question
BusinessBusiness
27 May, 05:40

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

+5
Answers (1)
  1. 27 May, 06:20
    0
    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.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Why do so proprietorships and partnerships pay relatively lower taxes than other types of business organizations ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Different borrowers have different risks of bankruptcy, and bankruptcy is costly to lenders. Therefore, lenders charge higher rates to borrowers judged to be more at risk of going bankrupt. True / False.
Answers (1)
What do investors who sell stocks for less than they paid for them experience?
Answers (1)
Suppose that Matthew set up a system to measure the performance of his company. He investigates any process variations that cause him to miss his goals, and he tries to manage those variations so he eliminates defects. When Mr.
Answers (1)
Johnson Corporation's bank statement for October reports an ending balance of $22,381, whereas Johnson's cash account shows a balance of $22,025 on October 31.
Answers (2)
Regarding convergence of accounting standards, the FASB and IASB: Multiple Choice A. Have agreed to combine their organizations to form the BUSY B. Have achieved full convergence with respect to financial instruments. C.
Answers (1)
New Questions in Business
Buster industries pays weekly salaries of $17,800 on friday for a five-day week ending on that day. the adjusting entry necessary at the end of the fiscal period ending on tuesday is
Answers (1)
While working in a fast food outlet, Harold observed that most of the customers were working in offices in the neighborhood. Sensing a profitable opportunity, he decided to open a catering business.
Answers (1)
Suppose that dunkin donuts solicited a group of customers to provide feedback on its products over time; for example, completing a survey every six months over a period of years. what marketing research technique would this represent?
Answers (1)
The act of purposely failing to pay taxes is known asThe act of purposely failing to pay taxes is known as withholding. tax evasion. a progressive system. a tax penalty.
Answers (1)
Rich, Inc. acquired 30% of Doane Corporation's voting stock on January 1, 2018 for $1,000,000. During 2018, Doane earned $400,000 and paid dividends of $250,000.
Answers (1)
Home » Business » Why do so proprietorships and partnerships pay relatively lower taxes than other types of business organizations
Sign Up Forgot Password?