Which of the following is a false statement about the taxation of an LLC?
A. Members may elect to be taxed as partners.
B. Members may elect to be taxed as a corporation.
C. It may be advantageous for an LLC to be taxed as a corporation.
D. Single-member LLCs must be taxed as corporations.
Answer: D. Single-member LLCs must be taxed as corporations.
You might also like to view...
People applying for an adjuster license must demonstrate that they are trustworthy and competent. Which of the following is the method most often utilized to demonstrate competence?
a. By reaching the age of 21, as reaching the age of 18 is not considered to be "adulthood" by most Insurance Departments. b. By reaching the age of 18, proving that competent adulthood has been attained. c. By passing the prescribed state licensing examination. d. By receiving a high school diploma or GED equivalent.
Describe what the term "yield" means in the context of a reservation strategy
What will be an ideal response?