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Facts: Two individuals, Aaron and Bob, want to form a new business venture, invest $5,000 each in it, and raise additional capital of $10 million

Facts: Two individuals, Aaron and Bob, want to form a new business venture, invest $5,000 each in it, and raise additional capital of $10 million from either a handful or thousands of investors.

a. What are the three principal alternative regimes in the Code for taxing the business income that might be earned by such a venture (identify by subchapter name)?

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