Question

Why would a person change their business status to a LLC?

A. To gain tax breaks

B. To limit their personal liability

C. To help obtain funding through the sale of stock

D. Because it is the easiest form for setting up your business

Answer 1

Answer:

A) to gain tax breaks

Explanation:

A common reason for changing a co. to an LLC is to avoid double taxation

Answer 2

A should be correct