To qualify as an individually owned business, the fishing business must receive more than 75 percent of its total income from fishing.

Name: To qualify as an individually owned business, the fishing business must receive more than 75 percent of its total income from fishing.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The IRS defines a fishing business as one that receives more than 75% of its income from fishing activities to qualify as an individually owned business.

To Qualify as an Individually Owned Business, the Fishing Business