Which form of business ownership provides limited liability but is taxed like a partnership quizlet?

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Which form of business ownership provides limited liability but is taxed like a partnership?

Like corporations, LLCs provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships: the owners of an LLC pay taxes on their shares of the business income on their personal tax returns.

Which form of business ownership provides limited liability?

The limited-liability company (LLC) accomplishes exactly that. This form provides business owners with limited liability (a key advantage of corporations) and no “double taxation” (a key advantage of sole proprietorships and partnerships).

Which form of business organization provides limited liability for its owners but is taxed like a partnership quizlet?

A limited liability company (LLC) is taxed like a partnership but provides limited liability for its owners similar to a corporation.

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