_____ 9. Limited liability companies are generally taxed as partnerships unless the company elects to be taxed as a corporation.

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Limited liability companies (LLCs) are considered pass-through entities, which means that the profits and losses are passed through to the members and reported on their individual tax returns. By default, LLCs are taxed as partnerships. However, LLCs can elect to be taxed as a corporation if they choose to do so.

_____ 9 Limited Liability Companies Are Generally Taxed as Partnerships Unless