1which of the following statements isincorrect about LLCs and the check-the-box Regulations?a. If a limited liability company with more than one owner does not make an election, the entity is taxed as acorporation.b. All 50 states have passed laws that allow LLCs.c. An entity with more than one owner and formed as a corporation cannot elect to be taxed as a partnership.d. If a limited liability company with one owner does not make an election, the entity is taxed as a soleproprietorship.e. A limited liability company with one owner can elect to be taxed as a co

2On December 31, 2017, Peregrine Corporation, an accrual method, calendar year taxpayer, accrued a performance bonus of $100,000 to Charles, a cash basis, calendar year taxpayer. Charles is president and soleshareholder of the corporation. When can Peregrine deduct the bonus?

4.A corporation must file a Federal income tax return even if it has no taxable income for the year. T or F