A limited liability company (LLC) a prefers its profits be taxed as personal income to its owners b provides limited liability for some, but not all, of its owners c cannot be created for professional service firms, such as accountants and attorneys d that meets the IRS criteria to be an LLC will b...

A limited liability company a prefers its profits be taxed a ...

A limited liability company (LLC): a. prefers its profits be taxed as personal income to its owners.

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A limited liability company (LLC):

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

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

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

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

is a hybrid between a sole proprietorship and a partnership.

Related Book For answer-question

Advanced Accounting

ISBN: 978-1305084858

12th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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Posted Date: Jun 08, 2022 02:24 AM

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Advanced Accounting

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