If a Partnership Chooses to Form an LLC, Under the Check-The-Box

question 66

Multiple Choice

If a partnership chooses to form an LLC, under the check-the-box rules, and assuming no elections are made, the entity will be taxed as

• A)a partnership if it has more than one member.
• B)an S corporation.
• C)a C corporation.
• D)Unable to determine from the facts presented.

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Definitions:

Certain Stimuli

Specific environmental or internal triggers that evoke a physiological or psychological response.

Interplay

The way in which two or more things have an effect on each other.

Heredity

The passing on of physical or mental characteristics genetically from one generation to another.

Environment

The surrounding physical, social, and cultural conditions in which an organism or community lives and interacts.