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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 608 |
Essay's paper body
Some corporations elect to be “S†corporations; this is for tax purposes. The company is treated as a partnership for tax purposes and a corporation for all others. Some corporations can also be limited liability company, LLC. “A limited liability company provides limited liability for all of its members, but typically can be treated as a partnership for federal income tax purposes...
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“A limited liability company provides limited liability for all of its members, but typically can be treated as a partnership for federal income tax purposes. State laws may differ as to whether it is treated as a partnership or a corporation for state income tax purposes. It can be managed by all of the members or can have centralized management in one or more of the members...
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