A limited liability company:A. is a hybrid between a sole proprietorship and a partnership. B. prefers its profits be taxed as personal income to its owners. C. that meets the IRS criteria to be an LLC will be taxed like a corporation. D. provides limited liability for some, but not all, of its owners. E. cannot be created for professional service firms, such as accountants and attorneys.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A limited liability company:A. is a hybrid between a sole proprietorship and a partnership. B. prefers its profits be taxed as personal ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Chris decides to purchase to pack of bubble gum as he is checking out at Walmart, he didn't intend to buy it, but it was there. These routine purchases best represent which type of product? a. Spur of the moment b. Specialty c. Shopping d.
Answers (1)
Assets that are readily converted into cash are termed liquid assets. a. True b. False
Answers (1)
Lantz Company has provided the following information: • Cash sales totaled $255,000. • Credit sales totaled $479,000. • Cash collections from customers for services yet to be provided totaled $88,000.
Answers (1)
Sandpiper Company has 10,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $30 par common stock.
Answers (2)
Why is vocabulary important? What is Promotion? Why is Promotion important in marketing?
Answers (1)
New Questions in Business
Technical tool that provides users with the ability to study, control, and improve processes of all types is a:
Answers (1)
Johansen Corporation has a target capital structure of 60 percent common stock and 40 percent debt. Its cost of equity is 14 percent, and the cost of debt is 8 percent. The relevant tax rate is 30 percent. What is the company's WACC?
Answers (1)
On November 1, 2018, Aviation Training Corp. borrows $49,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is payable at maturity. Aviation's year-end is December 31. Required: 1., 2. & 3.
Answers (1)
A stock's price is simply the current market price, and it is easily observed for publicly traded companies.
Answers (1)
Why is important to have a personal financial so important
Answers (1)