A limited liability company:
A) Is normally subject to double taxation.
B) Is normally taxed as a partnership.
C) Is normally taxed as a corporation.
D) None of the above.
E) Only a. and c.

Question

Quizplus · Accepted Answer

A limited liability company is normally taxed as a partnership. This means that the company's income is only taxed once, at the personal tax rate of the individual owners, rather than being subject to double taxation like a corporation.

A Limited Liability Company