Assertion: partnership's partner | /r/CapableOf | pay tax
Facets:
value: on their share
type: OTHER
value: themselves
type: MANNER
value: based on their tax bracket
type: OTHER
value: singularly
type: MANNER
value: on the companies
type: TRANSITIVE-OBJECT
value: regardless of
type: OTHER
value: on their personal returns
type: LOCATION
value: separately
type: MANNER
value: on that share
type: LOCATION
Source sentences:
text: That means that the partnership return is merely an information return, telling the IRS about the partnership's income and expenses; the partners pay tax on their share of partnership income on their personal returns.
text: Partners share the business’s profits, and each partner pays tax on their share.
text: The partners shall pay tax on their respective share of the partnership income.
text: The partners pay tax on their share of the profits (or deduct their share of the losses) on their individual tax returns.
text: General partners must pay self-employment (SE) taxes (Social Security and Medicare taxes) on their share of partnership earnings.
text: This ruling means that the partner must pay taxes on their share of the formation’s profits (sales minus expenses) regardless of how much money they actually earn or take from the entity.
text: Instead, all losses, credits, deductions, and income is passed through to the partners who then report and pay taxes on the companies assets as part of their personal income taxes.
text: Each partner will pay taxes separately, although information about income and expenses is filed for the Partnership as a whole.
text: The partners must report and pay taxes on their shares of income from the partnership on their tax returns.
text: Individual limited and general partners include their allocable share of partnership income or loss on their individual income tax returns and pay taxes on that share based on their tax bracket.
text: Income taxation of LLP and LLLPs, considering income tax purposes, are usually regarded as common general partnerships, where all the partners are singularly paying taxes and reporting on their portion of profits every year.
text: This means that the partners receive untaxed profits and must pay the taxes themselves.