In a short paragraph explain why limited liability companies have become the most popular business entity...
In a short paragraph explain why limited liability companies have become the most popular business entity within the United States.
Homework Answers
Limited liability company provides limited liability to its owners and is not formed for profits. This is business entity that includes the characteristics of both a corporation and a partnership or sole proprietorship based on the number of owners. The similar characteristic of LLC and corporation is limited liability and that with partnership is that the taxation is done at the individual owners' level and reduce the effect of double taxation.
The profit and losses of LLC is passed through its members who are LLC owners and this information is reported in their personal tax return.
Limited liability companies have become the most popular business entity within the United States because: -
- Pass-through taxation
- There is no restrictions on the number of members included in business.
- Company management can be structured flexibly.
- Does not require much paperwork.
- Owners are not responsible for business debts and liabilities.
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Hoffman Microsoft Edge - 0 mato.com/StudentPlayerHomeworkshomeworld-5574996208question de 18 flushed ld-5863724¢erwin wye Corporate Tax (Spring 2020) Nick Hoffman & | 02/01/201:08 PM Save Homework: Chapter 2 Homework Score: 0.2 of 1 pt 2 of 21 (11 complete) * QC:2-4...
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I need some clarification.
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O Limited Liability Company (LLG) Ostatus bas become a popllar form of business in the United states. Investigate how the growth of LLC Status has affected the relative nomber of new businesses that have chosen to operate as Corporations,
Extra Exercise: MCQ1 Is the concept of a company the same as limited liability? Choose the most appropriate response. a. Every entity created under legislation has automatic separate legal entity from its members and limited liability for its managers; this has always been the case b. Yes, every company has limited liability. The concept of a separate legal entity means that a company has limited liability for its debts and obligations c. The ability to create a separate legal entity...
for the first box for the entity can elect to be taxed as an
(Limited Liability company, limited liability partnership,
partnership, S corp) and for the second box there are forms
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partnership, limited liability companies, partnerships)
Hoffman Microsoft Edge - 0 mato.com/StudentPlayerHomeworkshomeworld-5574996208question de 18 flushed ld-5863724¢erwin wye Corporate Tax (Spring 2020) Nick Hoffman & | 02/01/201:08 PM Save Homework: Chapter 2 Homework Score: 0.2 of 1 pt 2 of 21 (11 complete) * QC:2-4...
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