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Taxable Entities; Tax Formula; Introduction to Property Transctions CHAPTER 3: TAXABLE ENTITIES; TAX FORMULA; INTRODUCTION TO PROPERTY TRANSCTIONS Introduction:Types of Entities: (p3-2, 3-3)Taxpaying entities: Individuals, C corporation (regular corporations), Trusts, Estates. -> paying taxFlow-through entities or conduits: Sole proprietorships, Partnerships and limited liability companies, S corporations (Small corporations). -> are not required to pay tax on.