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how will A be classified for US tax purposes? 6. A is A is organized as a limited liability company under the provision of the

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6. A is A is organized as a limited liability company under the provision of the New Jersey Limited Liability Company Act. Under its operating agreement, A may engage in any and all business activity permitted by New Jersey. It has 25 members and three of them are elected as managers. Under the Act, man- agement is vested in its members in proportion to their percentage in the prot- its of the organization, unless otherwise specified in the operating agreement of the company. A's operating agreement grants exclusive management au- thority to its designated managers. Under the New Jersey Act, no member, manager, employee, or agent is obli- gated personally for any of the organization's debts, obligations, or liabilities. Furthermore, the organization is dissolved upon the death, retirement, resig- nation, expulsion, or bankruptcy of any member unless the business is contin- ued upon the vote of all members and the operating agreement contains such a provision. Under A's operating agreement, upon the assignment of a mem- bership interest, the assignee of the interest has no right to participate in A or become a member without the written consent of all of A's members other than the assignor member. How will A be classified for tax purposes

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