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How is taxation handled in partnerships? Group of answer choices Partnerships are exempt from paying taxes. Partnerships are taxed based on the number of shareholders.

How is taxation handled in partnerships?

Group of answer choices

Partnerships are exempt from paying taxes.

Partnerships are taxed based on the number of shareholders.

Partnerships pay taxes when submitting the partnership tax return.

Partnerships report their share of profits as partnership incomes.

Partners pay taxes at the income tax rate for individuals.

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