This Is a Choice LLCs Can Make on Their Tax

question 95

Multiple Choice

This is a choice LLCs can make on their tax returns to be taxed as a corporation or a partnership.

• A)Check the box taxation
• B)Double taxation
• C)Pass through taxation
• D)Single taxation

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Definitions:

Decline

A decrease in size, number, value, or strength.

Grow

Increase in size, amount, or value.

Compounded Monthly

An interest calculation method where interest is added to the principal once a month, affecting the overall interest earned or paid.

GICs

Known as Guaranteed Investment Certificates in Canada, these investments assure a certain rate of return within a predetermined period.