Which of the following is a feature of an LLC?

1 An LLC provides limited liability to some, but not all, of its owners

2 The income of a LLC is taxed similar to a partnership or a proprietorship

3 The income of a LLC is taxed twice, once at the corporate level and once at the owner level

4 An LLC is required to have more than one type of stock outstanding

5 The income of a LLC is taxed as capital gains to the owners