What are the advantages of a firm being formed as a limited liability company (LLC) instead of

Question:

What are the advantages of a firm being formed as a limited liability company (LLC) instead of as a limited partnership?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

See More Books

Question Posted: Dec 11, 2015 03:40 AM

See More Questions

What are the advantages of a free trade zone? Are there any disadvantages?
What are the advantages of a ratio scale over an interval scale? Are these advantages significant?
What are the advantages of a simple repetition strategy? What kind of brands are most likely to use it?
1. Find the probability of obtaining between 40 and 60 heads when tossing a coin 100 times. 2. Find the probability of obtaining 6s between 20 and 40 times when rolling a die 200 times.
Why is it important to supplement studies of Canadian accounting principles with studies of the accounting practices used in other countries?
The financial statements of PepsiCo and the Notes to Consolidated Financial statements appear in Appendix A. Refer to PepsiCos financial statements, and answer the following questions about current...
12. How does the choice of functional currency affect how the gain or loss on a hedge of a net investment in a foreign subsidiary is reported in the financial statements? E x E R c I S E S
The manager of a minor league baseball team wants to estimate the average fastball speed of two pitchers. He clocks 50 fastballs, in miles per hour, for each pitcher. A portion of the data is shown...
Perpetual Inventory Using FIFO Beginning inventory purchases, and sales for Item PK95 are as follows: July 1 Inventory 57 units $15 9 Sale 44 units 13 Purchase 56 units 512 25 Sale 19 units Assuming...
Finisterra, S.A., located in the state of Baja California, Mexico, manufactures frozen Mexican food which enjoys a large following in the U.S. states of California and Arizona to the north. In order...
What is a publicly traded partnership? Are all publicly traded partnerships taxed as corporations?
What is an electing large partnership? What are the advantages to the partnership of electing to be taxed under the electing large partnership rules?
Three cables are attached to the top of the tower at A. Determine the angle formed by cables AD and AB. 48 m D 0 14m-16 m B -16 m 12 m C 24 m
I Need Hr project on Employee Engagement What is Employee Engagement and how does it contribute to organizational success? What is the role of HR in improving employee engagement? What are some...
In the United States, the Veterans Administration (VA) is tasked with, among other things, providing quality health care for U.S. military veterans. Chronically underfunded, the agency was having...
Using the keywords you brainstormed earlier in the module, conduct three separate searches in CQ Researcher - SAGE, Academic Search Ultimate, or another relevant database. When conducting these...
TechEx Repair allows local hardware stores to expand their service offerings to their customers by providing an off-site small engine repair service. Customers bring in small engines such as lawn...
Purpose: Sometimes we are asked to collaborate with a team of writers. This collaboration can help us to understand how others think differently from us and help us to think more creatively. This...
What is a lockbox arrangement, and how does its use reduce a firms float?
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
What problems are involved in setting overhead cost standards?
Mr. O earned an $89,000 salary, and Mrs. O earned a $40,330 salary. The couple had no other income and cant itemize deductions. a. Compute their combined tax if they file separate returns. b. Compute...
Mr. and Mrs. D had the following income items: Mr. Ds salary $52,500 Mrs. Ds Schedule C net profit 41,800 Interest income .. 1,300 Mrs. Ds self-employment tax was $5,906. The couple had $8,070...
Bert Baker and Ernestine Moffet were never formally married but have lived together as husband and wife for the last 14 years. Bert and Ernestine reside in Washington, D.C., a jurisdiction that...
Revenue Recognition and Sales Allowances accounting purposes ) . The goods are shipped from the warehouse on March 6 , and FedEx confirms delivery on March 7 . Ignore shipping costs, sales tax, and...
Ellis Perry is an electronics components manufacturer. Information about the company's two products follows: \ table [ [ , , , ] , [ Units produced,AM - 2 , FM - 9 , ] , [ Direct labor hours required...
Which of the following requirements to claim Earned Income Tax Credit is TRUE? The credit can be claimed under any filing status. The taxpayer must have a valid SSN for employment in the U.S., issued...

What are the advantages of a firm being formed as a limited liability company (LLC) instead of

Question:

Step by Step Answer:

From a legal standpoint all the owners of a limited liability company LLC have limited liability f...View the full answer

Federal Taxation 2016 Comprehensive

Students also viewed these Business Law questions