Giving it a life and identity of its own in essence.
This "person" has to pay taxes on its income. That "person" then gives money to those people it owes money to, and they in turn pay taxes on their income.
How is that double taxation?
Jerry Johnson
>>> [EMAIL PROTECTED] 10/12/04 03:14PM >>>
At 15:07 10/12/2004 -0400, you wrote:
>And, a lot of large businesses pay little or no taxes.
>
>Yehaa!
That isn't really true. If company A and company B were the same exact
companies that did the same exact business but the only difference is that
A is a publicly traded company and B is a limited partnership; Company A
would pay more in taxes - if they did everything as prescribed by the
GAP. Every time a large business distributes a dividend they pay a
tax. And then on top of that, the person who receives the dividend has to
pay tax on monies that was already taxed. Double Taxation!
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