What is the default classification for federal tax purposes of a U.S. eligible entity with one...
What is the default classification for federal tax purposes of a U.S. eligible entity with one owner? A. Partnership B. Corporation C. Limited liability partnership D. Disregarded entity
Homework Answers
| What is the default classification for federal tax purposes of a U.S. eligible entity with one owner? | |
| Ans: | Option D i.e. Disregarded entity is correct. |
| Explanation:- |
As per IRS code, if entity does not elects for its classification, then default classifaction for federal tax purposes applies. Th eligible entities with more than one owner are treated as partnership and entities with single owner are treated as disregarded entity. |
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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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