Asked by Jennifer Robert on Jun 01, 2024
Verified
Limited liability companies are formed under federal law for international commerce purposes.
Federal Law
Laws that have been enacted by the national government of a country and which apply to the entire nation, superseding local or state laws where conflicts occur.
International Commerce
Refers to the exchange of goods, services, and capital across international borders or territories.
- Recognize the foundational history and evolution of the LLC structure in the United States.
Verified Answer
BG
Brittany GregoryJun 06, 2024
Final Answer :
False
Explanation :
The limited liability company (LLC)is the product of attempts by state legislatures to create a new business organization that combines the nontax advantages of the corporation and the favorable tax status of the partnership.
Learning Objectives
- Recognize the foundational history and evolution of the LLC structure in the United States.
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