A limited liability company can be taxed as a corporation.

Name: A limited liability company can be taxed as a corporation.
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Question

A limited liability company can be taxed as a corporation.​

Quizplus · Accepted Answer

A limited liability company (LLC) can elect to be taxed as a corporation by filing Form 8832 with the IRS. This allows the LLC to be taxed separately from its owners, similar to a traditional corporation. However, an LLC can also choose to be taxed as a partnership or sole proprietorship, where the profits and losses pass through to the individual owners' tax returns.

A Limited Liability Company Can Be Taxed as a Corporation