Like a statutory close corporation, a limited liability company: a) follows the same state laws that C corporations follow. () b) files articles of incorporation outlining operational and organizational levels. ) c) can have no more than 50 shareholders. ) d) is not required to elect a board of directors or hold annual stockholders' meetings.

Like a statutory close corporation, a limited liability company: a) follows the same state laws that C corporations follow. () b) files articles of incorporation outlining operational and organizational levels. ) c) can have no more than 50 shareholders. ) d) is not required to elect a board of directors or hold annual stockholders' meetings.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter11: The Corporate Income Tax

Section: Chapter Questions

Problem 12MCQ

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