Warren is about to file taxes for a company he owns. If Warren needs to file his company's taxes separately from his personal taxes, what kind of company does he own?

Question

Quizplus · Accepted Answer

A corporation is an independent legal entity that is separate from its owners or shareholders. This means that the corporation can file its own taxes separately from the personal taxes of its owners, such as Warren in this case. Limited liability companies, sole proprietorships, and partnerships do not have this separation and would require the owner(s) to file taxes together with their personal taxes.

Warren Is About to File Taxes for a Company He