In limited liability companies ________.

Name: In limited liability companies ________.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In limited liability companies, income is taxed only once, as the personal earnings of members. This is because the company itself is not taxed as a separate entity, but rather the profits and losses pass through to the individual members who report them on their personal tax returns. Additionally, limited liability companies provide personal asset protection for the owners.

In Limited Liability Companies ________