Explain the process that exempts members of an LLC from double taxation.
What will be an ideal response?
Under the Internal Revenue Code and regulations adopted by the Internal Revenue Service (IRS) for federal income tax purposes, an LLC is taxed as a partnership unless it elects to be taxed as a corporation. Thus, an LLC is not taxed at the entity level, but its income or losses flow through to the members' individual income tax returns. This avoids double taxation.
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Name and explain the two major tenets of Kant’s moral philosophy.
What will be an ideal response?
The equity method:
a. is used to account for a stock investment that is more than 20% of a company's voting stock. b. presumes that a stock investment of 20% or more is a passive investment. c. presumes that the investor should not share in the success or failure of a company. d. presumes that the investor does not have significant influence over company operations.
When a manager engages in a consensus decision-making process with his team, he intends to direct the process and retain ultimate authority over the decision made by the group
Indicate whether the statement is true or false.
Which of the following statements about Internet resources is NOT correct?
a. Resources on the Internet may not always be reliable and credible. b. Internet resources may be used without concern for copyright, since materials must be cleared for posting before appearing on the Internet. c. In addition to the vast material available on the Internet, libraries provide some additional resources that an effective business researcher will at times need to use. d. Partial text from articles and documents are often available via the Internet, while full texts may only be available in published form.