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

question 54

Multiple Choice

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

• A)A limited liability company with one owner can elect to be taxed as a corporation.
• B)A limited liability company with more than one owner can elect to be taxed as a corporation.
• C)An entity with more than one owner and formed as a corporation can 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)If a limited liability company with more than one owner does not make an election,the entity is taxed as a partnership.

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