Which of the Following Statements Is Incorrect About LLCs and the Check-The-Box

question 30

Multiple Choice

Which of the following statements is incorrect about LLCs and the check-the-box Regulations?

• A)If a limited liability company with more than one owner does not make an election, the entity is taxed as a corporation.
• B)All 50 states have passed laws that allow LLCs.
• C)An entity with more than one owner and formed as a corporation cannot elect to be taxed as a partnership.
• D)If a limited liability company with one owner does not make an election, the entity is taxed as a sole proprietorship.
• E)A limited liability company with one owner can elect to be taxed as a corporation.

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Definitions:

Surgical Mask

A medical device worn over the mouth and nose to prevent the spread of infectious agents during surgical procedures and patient care.

Normal Flora

The collection of microorganisms including bacteria, viruses, and fungi that reside on or within the body but do not cause disease under normal circumstances.

Tapeworm

A parasitic flatworm, often ingested by humans or animals from infected food, leading to various health problems.

Staphylococcus Bacteria

A genus of gram-positive bacteria responsible for a variety of infections, including skin infections, pneumonia, and food poisoning.