Which of the Following Statements Is True of Limited Liability

Multiple Choice

Which of the following statements is true of limited liability companies (LLCs) ?

A) LLCs do not require separate tax on the earnings of the company.
B) LLCs do not pay franchise taxes in any states.
C) Banks, insurance companies, and nonprofit organizations are the most common forms of LLCs.
D) Laws are uniform for LLCs in all the states. Which of the following statements best describes a difference between C