One of the reasons why the Partnership form may be chosen is due to zero income tax liability and payments. In contrast, Corporations are taxed on their income; and then stockholders are taxed on dividends received.
In your discussion post share:
Which business form do you think is more advantageous from a tax perspective and why? Provide at least two reasons to support your opinion.
From a tax planning perspective, what are the possible concerns a partner should consider if the partnership is profitable?