Multiple Choice
All of the following statements concerning LLC's are incorrect except: ______.
A) Federal income tax is due on its income as an entity.
B) Income flows through to the members based on their proportionate interests in the company.
C) No filing is necessary to form a limited liability company.
D) All members enjoy unlimited liability.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: An LLC may be managed directly by
Q10: Under the RULPA, a limited partner probably
Q11: A limited liability company: _.<br>A) is the
Q12: In every state, LLP partners remain _
Q13: A limited partnership can be formed by
Q15: An LLC is a legal entity with
Q16: LLP statutes are designed to permit the
Q17: A court can disregard the LLC entity
Q18: Limited partners may contribute only cash as
Q19: Under the RULPA, a limited partner may