Question
Which of the following is a quality that a limited liability company shares with a corporation? a. Members (owners) of a limited liability company are
Which of the following is a quality that a limited liability company shares with a corporation?
a. Members (owners) of a limited liability company are only personally liable for debts to the extent of the money they put into the business.
b. Members (owners) of a limited liability company usually have little to no control in major business decisions.
c. A limited liability company and a corporation are treated identically for income tax purposes.
d. Both limited liability companies and corporations require complex and costly procedures and filings before they can legally engage in business.
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