Which of the following is a characteristic of limited liability companies (LLCs)?
A) They are made to pay an annual franchise tax in many states.
B) They are subject to double taxation.
C) They do not allow foreign investors to serve as owners.
D) They are required to produce a larger amount of paperwork than corporations.

Question

Quizplus · Accepted Answer

LLCs are often required to pay an annual franchise tax in many states. They are not subject to double taxation, allow foreign investors, and generally require less paperwork than corporations.

Which of the Following Is a Characteristic of Limited Liability