Nathan is a sole proprietor. How is the income earned in his business taxed?
A) Nathan is taxed twice-once for the business and once for his personal income.
B) Nathan is exempt from paying any tax.
C) Nathan pays one tax that includes both the business and his personal income.
D) Nathan pays a business tax if the business earns a profit, if not, only his personal income is taxed.
E) Nathan only pays tax on his business income; personal income is not taxed.
Correct Answer:
Verified
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