in which of the following form of business income is taxed separately from its owner
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A corporation is such an organization where the business income is taxed separately from the owner. A corporation Is separate from its shareholders and gets the income tax.
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A corporation is an organization where separate taxation is done on business income from the business owner.
A corporation is not the same as its shareholders and gets the income tax.
Organizing a business as a corporation is highly beneficial, such as protecting company owners from personal liability arising out of business's debts and enables the company to raise capital by selling stock or share.
Incorporating has its drawbacks also.
Most significant is that corporate profits are liable to double taxation and may be taxed twice by the government.
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