Which of the following forms of business offers limited personal liability but the company's income can be taxed like a partnership?
A) Limited liability partnership
B) Limited liability company
C) Corporation
D) Sole proprietorship
E) Partnership

Question

Quizplus · Accepted Answer

A Limited Liability Company (LLC) offers limited personal liability to its owners, also known as members, which means their personal assets are protected from the company's debts and obligations. However, the income of the company is passed through to the members and taxed on their personal income tax returns, similar to a partnership.

Which of the Following Forms of Business Offers Limited Personal