Benefits of partnership compared to sole proprietorship
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A partnership has several advantages over a sole proprietorship: It's relatively inexpensive to set up and subject to few government regulations. Partners pay personal income taxes on their share of profits; the partnership doesn't pay any special taxes.
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A partnership has several advantages over a sole proprietorship: It's relatively inexpensive to set up and subject to few government regulations. Partners pay personal income taxes on their share of profits; the partnership doesn't pay any special taxes.
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