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    Chapter 6

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    Kaye San Juan Catalo

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    Chapter 6

    Uploaded by

    Kaye San Juan Catalo
    10 views8 pages

    Original Title

    CHAPTER-6

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    10 views8 pages

    Chapter 6

    Uploaded by

    Kaye San Juan Catalo

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 8
    Partecodipe 7 (Scam ane eh ‘Tax of Partnerships iti yoo mace oy wehaateorcehyof Se ooo eo income soreness. were pea 9 dee Senn 00, oer Sot aa are pm es mena ena nine a sete 1 ny Se i ee my. i emeao © COMEIE Tn profs among thom)? ane pres fo to era ma Too. mer Perey ora Cv Coo. Panes Nas & jac one certs oeeed sre inate of 20 0 0 pare ane pet eee ean cal dre moras opel Ee comanie an cst» Buble arent shat ‘cee Sel npn fa nT mane do Para Tac ap Ssesoncnoen” se Gar Ptr Parra (OPP) Soeantedctretongusbarvcre (eee "E pornanp mod by persone fF the ‘Siete ve a pues neronng ar comen PION. pea tie rior rote en os pen teatbevan Hisiiannats i nasser titrate try 4 See ear hs ar rong nade or buses. Under Socton faresrnats 25°Cl be Tox Code and porinant revenue | Sopa sep, Fegusos, 2 GPP snot set come a cr aw consequent eeatale wihnadng ax. waver 2 GPP i oqued le le ncome fax rotun the pupese 3! omihingIformaton 10 he share of ch paras in the. net Ince ot fe patmership wien each partner 2. Gonoral Parnership (Commas Parersp} Partnerships. (other than goreral_prfesions_parerships seiner wegateres fot. neon tn purpoaee, are same te Coneldered a8, corporations ané se haere taved a=. such elton nal eeu. | Consequenty, partners ro consdored sharhoters, and thereor, be. computed nthe same manera a profs detibied fo them are consicre as ends subject 0 fs 2 comp ime manner aa Wiinlding tax. Boing fallax. te share of a pane nthe net == Income of parnership subject ix s nal tumablein Be partner's Personal income tax tum Dsiouive Shae 1s equal to each Bariner’s letibutve share of tho net income declared by the Dartnership fra taxable year ret of tax. 26 mm fear te a ae [Pe saan: Prope ‘ntact | asenamatecen | ea Sa | See A, foie Se eS ‘isto: Hon neha oe ne Lan 287 i | See i Siete. Seria, am | plicesla | ost ¢ Assn putty a emer eto | me tate rae in Pwo roto ‘2 Row 1500 Pe Cation F Hows east any tbe Para? ‘° Anwe PO SP tp ae a df ee Newt i al npn ame op ‘ii eG wept se ay | ‘Tar nen ate pe ‘sane rune Soate acco ste Fameene PS | (0 ne gate wat kb agi a are re See cota hee | meine rabumeta tare een of eee tet a mse Ete, aecsempemneta at Seca etn ad 8 ec onan 880 # PH MD anton argbcnn an ome etre? eens oe te Pe “Pree Fever) 20000. sem, i. ‘Stem ren tear Sete desoneee TDI ‘Allowable Deductions to Genera Professional Partnerships aR 2018 proves hat GPP isnot taxable enty for incone tax purposes sce ts on acing 38 "pass-through ently where is ‘nee iat taxes othe patnars comprising i. Section 25 o Pe Tax Code, 8 amended. ewe provides tat, for purposes of computing tho rove shar of te parma the net income of @ GPP shat bt ‘ampued inthe sone manner as 8 corporation. As euch, 2 GPP my ‘cam eer the terized deducts alowed under Section 24 ofthe Tet ode on eu thre can opt tava of the optional stars

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