Question

A limited liability company (LLC) combines the tax characteristics of: a. a partnership with the liability of partners. b. a partnership with the liability of a corporation. c. a corporation with the liability of shareholders. d. a corporation with the liability of a partnership.

Answer 1

Answer:

b. a partnership with the liability of a corporation

Explanation:

A limited liability company combines the pass through characteristics of a partnership that allows income to be taxed once with the limited liability of a corporation.

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