When operating a business the calculation of taxable income is important as it is the basis...

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Accounting

When operating a business the calculation of taxable income isimportant as it is the basis for determining the amount of tax thatmust be paid on the income of the business.
How is taxable income computed by the business if it is operatedas a "C" corporation, and "S" corporation or a partnership?

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CCorp CCorps pay taxes at the corporate level first After that individual shareholders pay taxes on dividends paid by the corporation This opens up certain shareholders to doubletaxation The prospect of double taxation daunting but it is an avoidable problem Lets See Answer

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When operating a business the calculation of taxable income isimportant as it is the basis for determining the amount of tax thatmust be paid on the income of the business.How is taxable income computed by the business if it is operatedas a "C" corporation, and "S" corporation or a partnership?

When operating a business the calculation of taxable income is important as it is the basis...

70.2K

Verified Solution

Question

Accounting

When operating a business the calculation of taxable income isimportant as it is the basis for determining the amount of tax thatmust be paid on the income of the business.
How is taxable income computed by the business if it is operatedas a "C" corporation, and "S" corporation or a partnership?

Answer & Explanation Solved by verified expert

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