A ________ combines the tax advantages of a pass-through entity with the limited liability advantages of a corporation

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A limited liability company, or LLC, is a type of business structure that combines the tax benefits of a pass-through entity (such as a sole proprietorship or partnership) with the limited liability protection of a corporation. LLC owners (or "members") are not personally liable for the company's debts or legal obligations, but the company is not taxed separately from its owners. Instead, profits and losses are "passed through" to the members' personal tax returns. This makes an LLC an attractive option for many small business owners who want the liability protection of a corporation without the double taxation of a traditional corporation.

A ________ Combines the Tax Advantages of a Pass-Through Entity