Federal Income Tax II Business Income Tax ACCT Accounting

Research Problem 3

How do C and S corporations, partnerships, and limited liability entities compare in terms of aggregate business receipts? Construct a pie chart indicating the aggregate business receipts of C corporations, S corporations, partnerships (separating limited liability entities from other partnership types), and non-farm sole proprietorships. Use the most recent data available at the IRS stats website. Explain how this data compares to the data in Exhibit 13.1 on numbers of different entities.