Compared to the C corporation, the limited liability company is an attractive form of business ownership because
A) even though it is a little more expensive to form, it has a longer life than the C corporation.
B) a limited liability company permits one owner to own all the stock of the company, whereas a C corporation requires several owners.
C) once formed, the limited liability company is a legal form of business ownership, worldwide, whereas the C corporation must file for corporate status in each nation it elects to do business.
D) once formed, the limited liability company does not require the firm to hold annual meetings, and has the option to avoid double taxation.

Question

Quizplus · Accepted Answer

The limited liability company can choose to be taxed as a partnership or a corporation, giving it the option to avoid double taxation. This form of business ownership files articles of organization; however, it does not hold annual meetings, nor does it need to file annually.

Compared to the C Corporation, the Limited Liability Company Is