A general partnership is comparable to a sole proprietorship in that neither is a taxable entity; therefore, the partners' profits are taxed as personal income.

Name: A general partnership is comparable to a sole proprietorship in that neither is a taxable entity; therefore, the partners' profits are taxed as personal income.
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Both a general partnership and a sole proprietorship are not separate taxable entities, meaning that the profits are passed on to the owners and taxed as personal income.

A General Partnership Is Comparable to a Sole Proprietorship in That