How does a limited liability company (LLC) differ from a Subchapter S corporation?
A) An LLC is taxed at a higher rate than a Subchapter S corporation.
B) There is no limit on the number of members in an LLC, whereas a Subchapter S corporation limits the number of members to 35.
C) An LLC is taxed as a corporation, whereas a Subchapter S corporation is taxed as a partnership.
D) The liability limit for members of an LLC is higher than that for a Subchapter S corporation.
Correct Answer:
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