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SEE PART 2: BUSINESSES
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A domestic LLC has a single member, which is a corporation. No federal tax classification election has been filed.
How is the LLC treated for federal income tax purposes?
A
As a disregarded entity, so the corporation is treated as directly owning the LLC's assets and conducting its activities.
B
As a partnership, because the corporation's owners are the ultimate owners of the LLC.
C
As a corporation, because an entity with a corporate owner must be classified as a corporation.
D
As an association, because the single member is not an individual.
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