Which of the following groups of entities are all subject to taxation on income?
A)Individuals, proprietorships and corporations
B)Proprietorships, corporations and trusts
C)Individuals, trusts and corporations
D)Individuals, partnerships and corporations

Question

Quizplus · Accepted Answer

All individuals, trusts, and corporations are subject to taxation on income. Proprietorships and partnerships are not separate legal entities from their owners and thus their income is taxed as the owner's personal income.

Which of the Following Groups of Entities Are All Subject