A joint venture is an IRS-created taxable entity that allows limited liability for its owners.

Name: A joint venture is an IRS-created taxable entity that allows limited liability for its owners.
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A joint venture is not an IRS-created taxable entity, but rather a business arrangement where two or more parties come together for a specific project or objective. The owners of a joint venture are usually responsible for their own taxes and liabilities.

A Joint Venture Is an IRS-Created Taxable Entity That Allows