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1. Q1: Can an LLC be owned by one member or does it have to have two or more members like a partnership? Q2: Who

1. Q1: Can an LLC be owned by one member or does it have to have two or more members like a partnership? Q2: Who can be members of an LLC?

2. What are the tax effects to an LLC and its members if the LLC elects under the check the box regs to be taxed like a C corp?

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