A business partnership that is owned and managed like a corporation but taxed like a partnership is called a(n)
A) limited partnership.
B) master limited partnership.
C) domestic partnership.
D) alien partnership.
E) limited-liability company.

Question

Quizplus · Accepted Answer

A master limited partnership (MLP) is structured like a corporation in terms of ownership and management but is taxed like a partnership, allowing it to avoid corporate income tax.

A Business Partnership That Is Owned and Managed Like a Corporation