Which Tax Classifications Can Potentially Apply to LLCs

question 45

Multiple Choice

Which tax classifications can potentially apply to LLCs?

• A) Partnership.
• B) Partnership and sole proprietorship.
• C) S corporation.
• D) C corporation.
• E) All of the choices are correct.

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Definitions:

Slash-And-Burn Cultivation

A traditional farming method that involves the cutting and burning of plants in a forest or woodland to create a field called a swidden.

Desertification

The process by which fertile land becomes desert, typically due to drought, deforestation, or inappropriate agriculture.

Plant Nutrients

essential chemicals needed by plants for growth and development, typically absorbed from the soil or through fertilization.

Hunter-Gatherer

A human living in a society in which most or all food is obtained by foraging (collecting wild plants and pursuing wild animals).