00:01
So, the four type of corporations are given to us, proprietorship, partnership, corporation, llc.
00:35
We have to tell that these features exist in these corporations or not.
00:46
First is business taxed.
00:49
So, in business taxed, the tax is charged on proprietors personal income and not from the corporation.
01:00
So, no.
01:01
In partnership, tax is charged from partner's personal income.
01:07
Corporation tax is charged from the corporation as corporation is a separate legal entity from its owners.
01:15
In llc, though llc is a separate legal entity, but tax is charged on each member's personal income.
01:22
So, no business tax is charged from the corporation.
01:26
Next is business entity.
01:27
In llc, proprietorship, the business and the owner are one legal entity...