Non-corporations are taxed as pass-through entities, meaning that
A). profits and losses are claimed on owners’ personal tax returns.
B). they do not have to pay payroll taxes.
C). their income tax rates are lower than those of corporations.
D). they pay only state and local taxes.
Answer:A
Non-corporations are taxed as pass-through entities, meaning that
A). profits and losses are claimed on owners’ personal tax returns. B). they do not have to pay payroll taxes. C). their income tax rates are lower than those of corporations. D). they pay only state and local taxes.