This year, HPLC, LLC, was formed by H Inc., P Inc., L Inc., and C Inc.Each member had an equal share in the LLC's capital.H Inc., P Inc., and L Inc.each had a 30 percent profits interest in the LLC, with C Inc.having a 10 percent profits interest.The members had the following tax year-ends: H Inc.[1/31], P Inc.[5/31], L Inc.[7/31], and C Inc.[10/31].What tax year-end must the LLC use?
A) 1/31.
B) 5/31.
C) 7/31.
D) 10/31.
Correct Answer:
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