If a partnership chooses to form an LLC, under the check-the-box rules, and assuming no elections are made, the entity will be taxed as
A)a partnership if it has more than one member.
B)an S corporation.
C)a C corporation.
D)Unable to determine from the facts presented.

Question

Quizplus · Accepted Answer

Under the check-the-box rules, an LLC with more than one member is automatically taxed as a partnership by default.

If a Partnership Chooses to Form an LLC, Under the Check-The-Box