The Internal Revenue Service classifies each limited liability company (LLC) based on the tax treatment the company selects.

Name: The Internal Revenue Service classifies each limited liability company (LLC) based on the tax treatment the company selects.
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The IRS allows LLCs to choose their tax classification, such as being taxed as a sole proprietorship, partnership, or corporation, depending on the number of members and elections made.

The Internal Revenue Service Classifies Each Limited Liability Company (LLC)