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n a sole proprietorship, the equipment and profits of the business are: Multiple Choice taxed as income for the business but are exempt from the
n a sole proprietorship, the equipment and profits of the business are:
Multiple Choice
taxed as income for the business but are exempt from the personal income tax paid by the owner.
taxed at the lowest corporate rate.
the property of the owner, except for taxes owed to the government.
tax-free if the appropriate exemption is filed with the local government.
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