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:

United States

A country in North America, consisting of 50 states, known for its diverse culture and significant impact on global affairs.

Hospital

A healthcare institution providing patient treatment with specialized medical and nursing staff and medical equipment.

Thanatology

The scientific study of death and the practices associated with it, including the study of the needs of the terminally ill and their families.

Medical Education

The comprehensive educational process, including undergraduate, graduate, and continuing education, for individuals aiming to become physicians and other healthcare professionals.