$15$

A limited liability company $($LLC$)$:

Multiple Choice

$00$:$54$:$38$

is a hybrid between a sole proprietorship and a partnership.

prefers its profits be taxed as personal income to its owners.

that meets the IRS criteria to be an LLC will be taxed like a corporation.

provides limited liability for some, but not all, of its owners.

cannot be created for professional service firms, such as accountants and attorneys.