Tax rules require that entities be classified the same way for tax purposes as they are classified for legal purposes.
Correct Answer:
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Q1: A single-member LLC is taxed as a
Q2: Entities taxed as partnerships can use special
Q4: S corporation shareholders are legally responsible for
Q5: C corporations and S corporations are separate
Q6: Corporations are legally better suited for taking
Q7: Sole proprietors are subject to self-employment taxes
Q8: Unincorporated entities with only one individual owner
Q9: S corporations have more restrictive ownership requirements
Q10: Sole proprietorships that are not organized as
Q11: Shareholders of C corporations receiving property distributions
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