TRUE OR FALSE:

1 - An eligible entity that has two owners, one owner a corporation and the second owner a disregarded entity, is by default a partnership and the entity can elect under the check-the-box regulations, to be treated as a corporation.

2- Limited Liability Companies are legally formed by filing Articles of Organization with the Secretary of State.

3- A partnership that wants to be taxed as a corporation begins operations on July 15, 2017. The company has until July 15, 2018 to timely make its check the box election to be treated as a corporation