Is the net income of a partnership taxed? Who pays the tax?

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Is the net income of a partnership taxed? Who pays the tax?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Horngrens Accounting

ISBN: 978-0133866889

11th edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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