Question: Question 23 The major difference between an LLC and a limited partnership (LP) is that: A. An LP is a pass-though entity. B. An LLC

Question 23

  1. The major difference between an LLC and a limited partnership (LP) is that:
    A.
    An LP is a pass-though entity.
    B.
    An LLC issues Schedule K-1s to its investors.
    C.
    An LPs profits are taxed only at the investor level.
    D.
    An LLC can have a single member.

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