They pooled income and distributed it all? To whom? The members of the group? In that case each individual member of the Grateful Dead would pay taxes on their share of income, even if the Grateful Dead as a business entity didn’t have any income to be taxed.
each individual member of the Grateful Dead would pay taxes....
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I know that ,, you know that ... they apparently were too busy trying to invent lossless concert gear and dropping acid to understand.
It reminds me of the guy who won some ginormous jackpot in Vegas, then lost it all in some "business ventures".
He still owed taxes, even though he was now "broke".
I'd imagine that the IRS would take the Dead to the cleaners if they audited them.
They certainly weren't paupers living in cardboard boxes.
They lived comfortable lifestyles.