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why does a company pay ncome tax, yet a sole trader or partnership does not?
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Asked 3/12/2012 1:57:11 PM
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User: why does a company pay ncome tax, yet a sole trader or partnership does not?

Weegy: If you mean corporation, it is a separate legal entity and a sole proprietor or partner would file their own separate income tax and a business income tax return.
Expert answered|Controler|Points 674|

User: why does a company pay income tax, yet a sole trader or partnership does not?

Weegy: If you mean corporation, it is a separate legal entity and a sole proprietor or partner would file their own separate income tax and a business income tax return.
Expert answered|spyderman|Points 180|

User: What role does a director of a company fulfill, and what is meant by the 'seperation of ownership from control' in respect of a company?

Weegy: The directors are responsible for the management of the company. While their powers can be restricted by the company's articles they can, in most cases do anything that the company can do. With these powers, come responsibilities. [ Since the directors can act as and for the company, they must ensure that the company does everything that it is obliged to do by law and that the decisions they make are in the best interests of the company. In this context the interests of the company are those of the shareholders as a whole. These may be different from the interests of customers, employees, individual shareholders or the directors themselves. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Separation of Ownership and Control The corporation, in contrast, for example, to a partnership, separates ownership from operational control - this concept is, of course, fundamental to any definition of corporate governance and is commonly referred to as the agency issue, or Agency Theory. It is this separation which creates the need for systems of independent monitoring and control. Historically, it was the freedom that this separation created to take much bigger risks in order to expand that prevented for so long the permission of such organisations to exist, with the potential dangers it implied. And it is this freedom which has required mechanisms to be constructed to try and prevent it being abused. ]
Expert answered|jher000|Points 6919|

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