The taxation of proprietorships is about the same as that of corporations.

Question

The taxation of proprietorships is about the same as that of corporations. ​

Quizplus · Accepted Answer

The taxation of proprietorships is different from that of corporations. Proprietorships are taxed as pass-through entities, where the business profits or losses are reported on the owner's personal income tax return. Corporations, on the other hand, are taxed separately from their owners and may be subject to different taxes such as corporate income tax, capital gains tax, and dividends tax.

The Taxation of Proprietorships Is About the Same as That