For income tax purposes,a partnership:
A)files a return and pays taxes.
B)is an entity.
C)has no taxes.
D)none of the above

Name: For income tax purposes,a partnership: A)files a return and pays taxes. B)is an entity. C)has no taxes. D)none of the above
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Quizplus · Accepted Answer

A partnership itself does not pay income taxes. Instead, it files an informational return, and the individual partners report their share of the partnership's income or loss on their personal tax returns.

For Income Tax Purposes,a Partnership