pass-through taxation
The taxation method applied to sole proprietorships, partnerships, and limited liability companies, where the owners pay taxes on all business profits on their individual tax returns (the business income "passes through" the business to the owners' tax returns). In contrast, a corporation, or a business that elects corporate-style taxation, is taxed directly on all business profits.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

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