It is impossible to form a business in a manner that allows for single taxation and limited liability.

Question

Quizplus · Accepted Answer

It is possible to form a business with single taxation and limited liability. For example, a Limited Liability Company (LLC) provides limited liability protection for its owners (members) while allowing for pass-through taxation, where the profits and losses of the business are reported on the individual tax returns of the members.

It Is Impossible to Form a Business in a Manner