When and where was the limited liability company first recognized as a form of business organization in the United States?
A)In 1952,in New York
B)In 1968,in Washington,D.C.
C)In 1969,in California
D)In 1977,in Wyoming
E)In 2002,in Florida

Question

Quizplus · Accepted Answer

One of the newest forms of business organizations in the United States is the limited liability company,an unincorporated form of business organization that combines the tax advantages and management flexibility of a partnership with the limited liability of a corporation.This form of business organization was first recognized in the United States in 1977 in Wyoming,and is now recognized in every state.

When and Where Was the Limited Liability Company First Recognized