Which of the following forms of organizations have earnings that are taxed twice,once as business income and once as personal income,when earnings are distributed to the owners in the form of dividends?
A)Corporations
B)General partnerships
C)Limited partnerships
D)Both A and C

Question

Quizplus · Accepted Answer

Corporations have earnings that are taxed twice, once as business income and once as personal income when earnings are distributed to the owners in the form of dividends. General partnerships and limited partnerships are pass-through entities where the income is only taxed once on the personal level of the owners.

Which of the Following Forms of Organizations Have Earnings That