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