Which of the following is NOT one of the criteria used to determine whether a partnership will be treated as a corporation for tax purposes?
A)Unlimited liability
B)Continuity of life
C)Centralization of management
D)Free transferability of interests

Question

Quizplus · Accepted Answer

The criterion of "unlimited liability" is not used to determine whether a partnership will be treated as a corporation for tax purposes. Instead, factors such as continuity of life, centralization of management, and free transferability of interests are considered. Unlimited liability is a characteristic of general partnerships, not a factor in determining corporate treatment for tax purposes.

Which of the Following Is NOT One of the Criteria