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Also the individual income of the partners is subject to income tax at the usual rates. For unregistered firms, income tax is levied on the firm's income and the partners are not liable to pay tax on the shares of profit received from the unregistered firm(s). Company; A company is a legal entity formed under the Companies Ordinance, 1984.
The median income for a family was $36,842, well below the state median of $72,036. [171] 33.4% of families had income at or below the federally defined poverty level. Out of the total population, 47.3% of those under the age of 18 and 21.0% of those 65 and older had income at or below the federally defined poverty line. [172]
In 2010, the median income for a household in the city was $38,272, and the median income for a family was $46,979. Males had a median income of $34,208 versus $26,397 for females. The per capita income for the city was $20,884.
The city is the home to a single Fortune 500 company: Entergy, a power generation utility and nuclear power plant operations specialist. [216] After Katrina, the city lost its other Fortune 500 company, Freeport-McMoRan , when it merged its copper and gold exploration unit with an Arizona company and relocated that division to Phoenix .
Among renters, 16% were couples with kids, 13% were couples without children, 51% lived alone, 13% were single parents, and 7% were something else. [ 211 ] Since the 1980s, the average price of a single-family home has doubled every 10 years, going from $48,715 in 1980 to $424,844 in 2021.
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