Which of the Following,if Any,correctly Characterize the Check-The-Box Regulations

question 132

Multiple Choice

Which of the following,if any,correctly 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 cannot elect to be taxed as a corporation.
• C) If default (no election is made) occurs, a limited liability company is taxed as a corporation.
• 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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Definitions:

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Kishonna Gray

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