A partnership is:
A)taxed like a corporation.
B)not subject to the double taxation of some other forms of business.
C)taxed at the lowest rate for an individual.
D)taxed under capital gains laws as all profits are considered to come from appreciated assets.

Question

Quizplus · Accepted Answer

A partnership is not subject to double taxation because the profits and losses flow through to the partners' personal tax returns. This means that the partnership itself does not pay taxes on its income, but rather the partners pay taxes on their share of the partnership's income.

A Partnership Is