Ray is starting a new business with a friend and trying to decide between a C corporation, S corporation, and partnership. What statements regarding his decision is correct?

Respuesta :

Answer:

The correct answer is letter "B": A partner in a partnership is taxed on his or her share of partnership income.

Explanation:

Partnerships are organizations where two or more individuals operate a business. The partners are fully liable for the transactions of the company which implies their personal assets can be considered as collateral if the company falls into debt. When it comes to taxes, the partners must file them according to the percentage contribution to the partnership.