In case of Joint Venture :- any kind of tax liability is payable upon JV entity ?

Question

In case of Joint Venture :- any kind of tax liability is payable upon JV entity ?

Answer

A joint venture is basically a partnership. No tax is paid by the partnership or joint venture. All tax attributes are passed through to the partners. There is unlimited liability to the partners or joint venturers. Have you considered an LLC? There is limited liability to the members of an LLC and the taxation can be the same if you want. There are other choices as well.