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Each type of business entity is affected by taxation. However, tax rates vary among the many different types...

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Accounting

Each type of business entity is affected bytaxation. However, tax rates vary among the many different types ofcompany structures, such as traditional C corporations, SCorporations, partnerships, and LLC. For example, corporationsare generally taxed at higher tax rates than sole proprietors.

Respond to the following in a minimum of 175words: 

Explain the differences in taxing of four differenttypes of organizations. 


If you were going into business and had a choice ofbusiness structures to select from that would minimize your taxes,while yielding the highest profits, which would you choose andwhy? 


Answer & Explanation Solved by verified expert
4.1 Ratings (543 Votes)
Business structure affects many aspects of any entity including the tax obligations and all Therefore the business structure must be selected after considering all the legal consequences and future managing the time consuming tax compliances and simplified tax liabilities The C Corporation refers to Standard Corporation while the S Corporation    See Answer
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