Question
The following are true regarding Limited Liability Companies, except? a. The default tax treatment for a single member limited liability company is that of a
The following are true regarding Limited Liability Companies, except?
a. The default tax treatment for a single member limited liability company is that of a disregarded entity.
b. The default tax treatment for a multi-member limited liability company is that of a partnership.
c. A multi-member Limited Liability Company can elect tax treatment as a C corporation or an S corporation.
d. For legal purposes, a Limited Liability Company is treated the same as the type of entity elected for tax purposes.
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Structural Analysis
Authors: Russell Hibbeler
10th Edition
134610679, 978-0134610672
