Which of the following is true of LLC (limited liability company) taxation?
A) An LLC is taxed as a corporation in all general cases.
B) Income or losses of an LLC do not flow through to the members' individual income tax returns.
C) Members of an LLC are subject to double taxation.
D) An LLC is not taxed at the entity level.
D
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Economically rational buyers and sellers use their assessment of an asset's risk and return to determine its value. Relative to this concept, which of the following is true?
A) To a buyer the asset's value represents the minimum price that he or she would pay. B) To a seller the asset's value represents the maximum sale price. C) To a buyer the asset's value represents the maximum price that he or she would pay. D) The interaction of buyers and sellers can result in a value that differs from the price of the asset.
The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the bonus and the salary allowance. If income is $150,000, the bonus should be:
A. $20,000 B. $30,000 C. $18,000 D. $24,000
The mean of the standard normal distribution is ____________________ and the standard deviation is ____________________
Fill in the blank(s) with correct word
If a corporation pays a tax rate of 21 percent, the after-tax cost of debt for a 10-year, 8 percent, $1,000 par value bond selling at $1,150 is ________.
A) 4.71 percent B) 3.58 percent C) 1.25 percent D) 6.32 percent