Select the Correct Statement Regarding the Business Tax Return a LLC

question 2

Multiple Choice

Select the correct statement regarding the business tax return a LLC files.

• A)The LLC files a Form 1040 Schedule C
• B)The LLC files a Form 1120
• C)The LLC chooses how the business is treated for tax purposes.
• D)The LLC files a Form 1065

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Definitions:

Assignee

The party to whom rights or properties are transferred in an agreement or by legal means.

Obligor

An obligor is an individual or entity legally obliged to provide a benefit or payment to another under the terms of a contract.

Assignment

The transfer of rights, property, or obligations from one party to another, often seen in contractual and legal contexts.

Delegation

The act of assigning responsibility or authority from one person or entity to another to carry out specific activities or tasks.