Which of the following statements is false related to a partnership? O O O A. Most states do not tax the partnerships but rather the partners. Most states tax non-resident partners on their share of the income generated by the B. partnership within the state even though the non-resident partner is not otherwise subject to that state's income tax. C. Publicly traded partnerships are taxed as corporations by some states, such as California. O D. Under federal tax law for limited partnerships, the limited partners but not the general partners are subject to the pass-through provisions.
Which of the following statements is false related to a partnership? O O O A. Most states do not tax the partnerships but rather the partners. Most states tax non-resident partners on their share of the income generated by the B. partnership within the state even though the non-resident partner is not otherwise subject to that state's income tax. C. Publicly traded partnerships are taxed as corporations by some states, such as California. O D. Under federal tax law for limited partnerships, the limited partners but not the general partners are subject to the pass-through provisions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Which of the following statements is false related to a partnership?
O
O
O
A. Most states do not tax the partnerships but rather the partners.
Most states tax non-resident partners on their share of the income generated by the
B. partnership within the state even though the non-resident partner is not otherwise subject to
that state's income tax.
C. Publicly traded partnerships are taxed as corporations by some states, such as California.
O
D.
Under federal tax law for limited partnerships, the limited partners but not the general
partners are subject to the pass-through provisions.
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