Unless advised otherwise by your attorney,the best choice for a new small business is a
A)partnership.
B)C corporation.
C)sole proprietorship.
D)limited liability company.

Question

Quizplus · Accepted Answer

A limited liability company (LLC) offers the benefits of limited liability for its members, while avoiding the double taxation of a C corporation. Additionally, an LLC allows for flexible management structures and follows a pass-through taxation system, where profits and losses are reported on the individual members' tax returns. However, it is always important to consult with an attorney to determine the best legal structure for a new small business based on specific circumstances and goals.

Unless Advised Otherwise by Your Attorney,the Best Choice for a New