Which of the Following, If Any, Incorrectly Characterize the Check-The-Box

question 103

Multiple Choice

Which of the following, if any, incorrectly characterize the check-the-box Regulations?

• A)A one-owner business is a sole proprietorship if default (no election is made) occurs.
• B)A one-owner business can elect to be taxed as a corporation.
• C)If default (no election is made) occurs, a limited liability company is taxed as a partnership.
• D)The check-the-box Regulations can apply to entities that are already incorporated under state law.
• E)None of the above.

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