What are some common types of legal entities used for operating a business? What types of business entities does the U.S. tax system recognize? What are tax and nontax advantages of business entities recognized by the tax system?© BrainMass Inc. brainmass.com June 4, 2020, 12:47 am ad1c9bdddf
What are some common types of legal entities used for operating a business?
Legal business forms include:
Limited liability companies
Non for profit entities
What types of business entities does the U.S. tax system recognize?
The tax system recognizes all of the types of business with the following caveats:
1. A joint venture is more like a short term partnership which the tax system would call a ...
In a 335 word solution, the questions are answered with 2 or 3 sentences for each question.