Which of the following statements is true about taxes in a limited partnership?
A)Both limited partners and general partners are double taxed.
B)Both limited partners and general partners pay taxes on their share of the profit.
C)Both limited partners and general partners are double taxed,however,the amount of tax liability by limited partners is capped.
D)Limited partners are not double taxed,but general partners are.
E)General partners,but not limited partners,pay taxes for profits of the partnership.

Question

Quizplus · Accepted Answer

A)As limited partners,they pay taxes on their share of the profit.
B)As limited partners,they pay taxes on their share of the profit.
C)As limited partners,they pay taxes on their share of the profit.
D)As limited partners,they pay taxes on their share of the profit.
E)As limited partners,they pay taxes on their share of the profit.

Which of the Following Statements Is True About Taxes in a Limited