Which of the following is false regarding limited liability companies?
A)The limited liability company was first recognized in Wyoming.
B)Limited liability companies have the limited liability of partnerships yet must be taxed like corporations.
C)Limited liability companies must file a form with a state agency.
D)The company name must include "Limited Liability Company" or an abbreviation of those words.
E)Owners of a limited liability company are referred to as members.

Question

Quizplus · Accepted Answer

Members of a limited liability company can choose whether to be taxed as a partnership or a corporation.

Which of the Following Is False Regarding Limited Liability Companies