If a partnership (or any other nontaxable entity) with three partners (or members) earns $60,000 in a
Question:
If a partnership (or any other nontaxable entity) with three partners (or members) earns $60,000 in a year, how much will each partner “take home”? What if, instead of being partners, they were shareholders in a corporation?
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Each partners share is 20000 At a tax rate of 33 percent they will each pay 6600 in taxes leaving 1...View the full answer
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Related Book For 
Introduction To Business Law
ISBN: 9780324826999
3rd Edition
Authors: Jeff Rey F. Beatty, Susan S. Samuelson
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