Question
ABC Corp. has a wholly owned subsidiary, XYZ Inc. ABC Corp. and XYZ Inc. create QRS LLC under state law, with ABC Corp owning 7
ABC Corp. has a wholly owned subsidiary, XYZ Inc. ABC Corp. and XYZ Inc. create QRS LLC under state law, with ABC Corp owning 7 of the 10 ownership units in QRS LLC, and XYZ Inc owns the other 3 units. If no check-the-box election is made,
| A. | QRS LLC will be treated as a corporation. | |
| B. | QRS LLC will be treated as an LLC | |
| C. | QRS LLC will be treated as a partnership | |
| D. | QRS will be treated as an entity disregarded from its owners |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Auditing SAP S 4HANA
Authors: Steve Biskie
1st Edition
1493222643, 978-1493222643
