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4 October, 03:42

An llc is formed when a general partnership files a statement of qualification with the appropriate state official. true or False

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Answers (2)
  1. 4 October, 03:48
    0
    True

    Explanation:

    A LLC, or Limited Liability Company is a company that providesliability protection to those that form it, and is formed when a group of persons file articles of organization which are also known as certificate of corporation, and they have to file those documents in the secretary of state's corporation bureau.
  2. 4 October, 04:08
    0
    False

    Explanation:

    The IRS definition is: "A limited liability company (LLC) is an entity created by a state statue".

    A LLC is a separate entity from its owners, therefore the owners have limited liability towards the company's debts or obligations. If it has only 1 owner, it is taxed like a sole proprietorship, if it has 2 or more owners it is taxed like a general partnership.

    On certain occasions a LLC with several owners can choose to be taxed as S corporations or C corporations.
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