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Businesses only pay taxes on net earnings, not on gross revenues. As long as you both do not show a profit you won't have tax liability.
by jeremyjh 8y ago
Businesses only pay taxes on net earnings, not on gross revenues. As long as you both do not show a profit you won't have tax liability.
- SmellyGeekBoy 8y agoBusinesses still need to report all revenue, even if they're only taxed on the profit.