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Joint Venture

A joint venture is an alliance where two or more companies consent to contribute services and/or capital to a common commercial enterprise. Each member of the joint venture shares only the expenses of the particular project or venture. As a member of a joint venture, one will receive a share of the profits which will be taxed according to whatever business arrangement you have set up. For example, if you operate a sole proprietorship, your joint venture profits will be taxed just as any other business income would. Joint ventures don’t have to file information returns.

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