Which of the following legal forms of organization's income is NOT taxed under individual incometax rate?
A) corporations
B) partnerships
C) limited partnerships
D) sole proprietorships

Question

Quizplus · Accepted Answer

Corporations are taxed under corporate tax rates, not individual income tax rates. Partnerships, limited partnerships, and sole proprietorships are all pass-through entities, where the business income is taxed at the individual level.

Which of the Following Legal Forms of Organization's Income Is