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With which of the following entity types would the income be subject to double taxation? a. Limited Liability Company b. Sole Proprietorship c. Partnership d. Corporation Sam and Henry form a limited liability partnership (LLP). How will the income of the LLP be taxed? a. The income is taxed at the partnership level, then taxed again as income is distributed to the owners b. Income is accumulated untaxed at the partnership level and is only taxed when distributed to the partners. c. The income is taxed at the partnership level only d. Income and losses are reported directly on the partners' individual tax returns When selecting a business entity for a new business, which of the following is NOT a factor for structuring the business? a. Tax treatment b. Ability to raise capital c. Name of the Business d. Liability protection Tommy, Kimberly, Trini, Billy and Jason Lee created MMPR, LLC. What type of business entity is MMPR, LLC? a. Limited Partnership b. Limited Liability Partnership c. Corporation d. Limited Liability Company