A Limited Liability Company That Has Only One Member Is

question 52

True/False

A limited liability company that has only one member is generally treated as a disregarded entity for federal tax purposes.

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Definitions:

Successive Approximations

A series of gradual steps, each of which is more similar to the final desired response.

Law Of Effect

A principle of behavior psychology proposed by Edward Thorndike suggesting that actions which produce satisfying effects in a given situation become more likely to occur again, while actions producing unpleasant effects become less likely.

Cats

Domesticated felines known for their agility, curiosity, and being common household pets.

Law Of Effect

A principle in psychology that states behaviors followed by positive outcomes are likely to be repeated, and those followed by negative outcomes are not.