A Limited Liability Company

A limited liability company:

A) Combines the pass-through taxation feature of a partnership with the limited liability feature of an S corporation
B) Will probably decline as a form of organization due to its undesirable features
C) Are allowed in only a very few states in the U.S.
D) Results in personal liability for all partners if one (or more) partner(s) commit malpractice
E) Can only be formed if more than one person is a partner (i.e., no one-person LLCs are allowed)