A limited-liability company with at least two members is
A) taxed like a corporation.
B) taxed like a partnership.
C) similar to a cooperative.
D) always used to organize charitable organizations.
E) the result of a horizontal merger.

Question

Quizplus · Accepted Answer

A limited-liability company with at least two members is taxed like a partnership. This means that the profits and losses of the LLC are passed through to the individual members, who report them on their personal tax returns. The LLC itself does not pay federal income taxes.

A Limited-Liability Company with at Least Two Members Is