Explain the process that exempts members of an LLC (limited liability company) 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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The success of a firm's blogs for promoting expertise is enhanced when the message is clear and publication is regular
Indicate whether the statement is true or false
Maxwell did not complete his assignment. When his boss asked him why, Maxwell replied that he did not consider the assignment to be part of his job. His boss pointed out that the assignment was in his job description. It appears Maxwell is shirking his ______ for the project.
A. authority B. responsibility C. accountability D. doing the right thing
A firm selling food should have higher inventory turnover rate than a firm selling office furniture
Indicate whether the statement is true or false
A global supply chain with offshoring would tend to see which of these performance dimensions increase?
A) Labor costs B) On time delivery C) Supply chain visibility D) Minimum order quantity