Discuss the possible tax classifications

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Question - Assume that you have a choice under US state law of forming a corporation, an LLC with only one owner or an LLC with more than one owner. Discuss the possible tax classifications that are available to each type of entity. Mention what tax classifications you can choose for each type of entity and what the tax classification would be for each entity if no choices were made (the default).

Reference no: EM132633617

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