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by troad
1281 days ago
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Believe it or not, they mostly don’t. It tends to be fairly binary. Corporations have legal personality, including separate tax identity, so no pass-through taxation. Sole proprietorships have pass-through taxation, but no legal personality (incl. no limit to liability). Intermediate entities like LLCs are a relatively recent Americanism that’s unusual in the rest of the world. |
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