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31 October, 20:11

An llc is formed when a general partnership files a statement of qualification with the appropriate state official. true or False

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Answers (2)
  1. 31 October, 20:48
    0
    True

    Explanation:

    A LLC, or Limited Liability Company is a company that providesliability protection to those that form it, and is formed when a group of persons file articles of organization which are also known as certificate of corporation, and they have to file those documents in the secretary of state's corporation bureau.
  2. 31 October, 21:14
    0
    False

    Explanation:

    The IRS definition is: "A limited liability company (LLC) is an entity created by a state statue".

    A LLC is a separate entity from its owners, therefore the owners have limited liability towards the company's debts or obligations. If it has only 1 owner, it is taxed like a sole proprietorship, if it has 2 or more owners it is taxed like a general partnership.

    On certain occasions a LLC with several owners can choose to be taxed as S corporations or C corporations.
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