Examlex
Which of the following types of taxes is deductible for federal income tax purposes?
General Partners
Individuals in a partnership who are responsible for the management of the business and are personally liable for its debts.
Limited Liability
Limited Liability is a legal principle that limits the financial liability of shareholders, owners, or members of a company to the amount they have invested in it.
Operating Agreement
An agreement between Limited Liability Company (LLC) members that specifies the organization's financial and operational choices.
LLCs Members
Individuals or entities that hold ownership interest in a Limited Liability Company and have rights and responsibilities as outlined in the LLC agreement.
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