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A partnership has several advantages over other forms of business organizations. It can be easily formed, without the legal process and costs involved in incorporation. A partnership is less subject to government supervision; there are usually fewer government regulations and less paper work regarding partnerships than corporations. Because a partnership is not a legal entity, it is not subject to corporate income tax; individual partners file personal income tax returns, which include their allocation of partnership profits. Since a partnership includes at least two individuals, it has access to more capital and expertise than does a proprietorship.
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