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Tax Question Which of the following is/are correct with respect to limited liability companies (LLCs)? I. An advantage of an LLC when compared to a

Tax Question

Which of the following is/are correct with respect to limited liability companies (LLCs)?

I. An advantage of an LLC when compared to a regular corporation is the ability to pass through tax attributes to owners.

II. A disadvantage of a general partnership when compared with an LLC is the inability of partners to have limited liability.

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