Which of the following is true regarding the taxation of limited liability companies?
A) A limited liability company is taxed as a partnership.
B) A limited liability company is taxed as a corporation.
C) A limited liability company may decide whether to be taxed as a corporation or a partnership.
D) A limited liability company is taxed as a partnership on earnings up to $900,000, and as a corporation for any amount over that limit.
E) A limited liability company is taxed as a corporation on earnings up to $900,000, and as a partnership for any amount over that limit.
Correct Answer:
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