Question
A limited liability company (LLC) has all of the following features except:
pass-through taxation
double-taxation
limited liability for owners/members
flexible management structure
pass-through taxation
double-taxation
limited liability for owners/members
flexible management structure
Answers
GPT-4o mini
A limited liability company (LLC) has all of the following features except:
**double-taxation**
LLCs typically enjoy pass-through taxation, meaning that profits and losses are reported on the owners' personal tax returns, avoiding the double taxation that corporations may face. They also provide limited liability for their owners/members and offer a flexible management structure.
**double-taxation**
LLCs typically enjoy pass-through taxation, meaning that profits and losses are reported on the owners' personal tax returns, avoiding the double taxation that corporations may face. They also provide limited liability for their owners/members and offer a flexible management structure.