Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) Once an election is made to change its classification, an entity cannot change again for 60 months.
B) A business need not be incorporated under state or federal law to be taxed as a corporation.
C) The check- the- box regulations permit an LLC to be taxed as a C corporation.
D) Under the check- the- box regulations, an LLC that has only two members (owners) must be taxed as a partnership.