Problem
1. What are the advantages and disadvantages of the use of a sole proprietorship versus a partnership for conducting the operations of a small business firm?
2. Under what circumstances does it become advantageous for the small business to incorporate? 5.6 A corporation had net taxable income of $60,000 in 1991.
A. How much income tax must the corporation pay?
B. What is the marginal tax rate?
C. What is the average tax rate?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.