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How is a partnership taxed?

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1 How is a partnership taxed? on Fri Mar 16, 2012 11:42 pm

alvin_vicente


Arresto Menor
Ako po at ang aking kaibigan ay nagrehistro ng partnership sa SEC. Nagpatulong po kami sa isang "book keeper" pero wala kaming natanggap na advice sa kanya kung ano ang dapat naming gawin at anong klaseng business ang dapat naming irehistro. Ang partnership ay bunga lamang ng aming mga utak na walang kaalam-alam sa business.

Kami po ay mga freelance draftsmen. Tumatanggap po kami ng drafting at 3d modeling works mula sa mga clients locally at abroad. Kami lang pong dalawa talaga. Wala po kaming employees or secretary. Tam po ba ang aming ginagawa?

Hindi rin po namin kabisado ang pagbabayad ng tax. Iniwan na rin po namin ang hinire namin na book keeper kasi hindi maganda ang serbisyo nya.

Nag-umpisa po kami last January at ang nababayaran pa lang namain ay ang 3% tax. May nabasa po ako sa internet na kaylangan din magbayad ng final withholding tax na 10 percent. Tama po ba yun?

Mali po ba kami na general partnership ang ginawa namin instead of sole proprietorship o dapat nagself employed na lang kami?

Total napasubo na po kami itutuloy na lang namin. Kaylangan pa rin po bang magbayad ng tax ang bawat isa sa amin mula sa pinaghahatian naming kita ng kompanya?

Sana po ay matulungan nyo kami.

Maraming salamat po.

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2 Re: How is a partnership taxed? on Sat Mar 17, 2012 7:00 pm

tatak


Arresto Mayor
para saan daw yung 3%?

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3 Re: How is a partnership taxed? on Sat Mar 17, 2012 7:19 pm

alvin_vicente


Arresto Menor
Monthly percentage tax.

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4 Re: How is a partnership taxed? on Sat Mar 17, 2012 7:52 pm

tatak


Arresto Mayor
kasi ang pagkakaintindi ko sa general partnership... kayo lang as partners ang magbabayad ng tax.. yung partnership hindi na.. so income tax ang babayaran nyo at hindi percentage tax.. so after the taxable year 2012, saka lang kayo dapat magbayad..

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5 Re: How is a partnership taxed? on Sun Mar 18, 2012 9:26 am

alvin_vicente


Arresto Menor
Ang sabi kasi ng BIR na ang general partnership is taxed like a corporation. Ang problema namain ngayon kung kayalangan pa ba namin magbayad individually.

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6 Re: How is a partnership taxed? on Sat Mar 24, 2012 1:08 pm

attyLLL


moderator
tatak, that is correct for partnerships of professionals like lawyers, accountants, engineers. other partnerships are taxed as an entity


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