Sole proprietorship treats earnings as own profits/ company money. It belongs to the person / company entity who owns it. That's why the profits are taxable to some tax price as that of non-public / company money.
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Partnerships treats profits as own revenue/ corporate earnings. It belongs the person/ company entity who is an element on the partnership. As a result the revenue are taxable to a tax rate as that of personal / corporate income.
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A lawful document that declares the identify or names of an LLC�s owners, their proportion of possession, and functioning methods for that company.
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