What are the accounting implications of a joint venture?

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Are joint venture profits subject to taxation?
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Are there any restrictions on how profits from a joint venture are distributed?
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What kinds of assets can a joint venture own?
What are the filing requirements for a joint venture with the IRS?
What are the duties of the parties to a joint venture?
How do I dissolve a joint venture?
What are the risks of joint ventures in different countries?

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