Question: Identify a true statement about limited liability companies (LLCs). The owners of LLCs can elect to have the company treated as a partnership for tax

Identify a true statement about limited liability companies (LLCs).

The owners of LLCs can elect to have the company treated as a partnership for tax purposes.

Unlike corporations, LLCs are required to hold regular board meetings.

Unlike S corporations, the owners of LLCs cannot include foreign investors and other corporations.

Most states permit banks, insurance companies, and nonprofit organizations to operate as LLCs.

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