Supreme Court Chief Justice
member of the military
Answer:
where is yr question?????
thx
Answer:
The case has yo be decided first and in The Supreme Court
Answer:
The amount of the distributive share of partnership net income that is taxable by California is the share of the partnership's net income of $10,000 that can be attributed to Ewan.
Assuming he holds a 50% interest in the partnership, he is expected to pay tax on his share of the $10,000 (which is equal to $5,000) in California, where the income is earned and not where he resides.
Explanation:
A partnership as an entity does not pay taxes. But individual partners must pay taxes on their shares of the partnership income, whether it is actually distributed or not. The partnership usually lists the partners' income on Schedule K-1, while individual partners fill the normal individual tax returns.
