Legal requirement for the formation of a limited liability company - SS1 Commerce Past Questions and Answers - page 1
What is the first step in forming a limited liability company (LLC)?
File Articles of Organization
Obtain licenses and permits
Choose a name for the LLC
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Which document is filed with the government agency to officially form an LLC?
Articles of Organization
Operating Agreement
Business Plan
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What is an optional but highly recommended document for an LLC that outlines the rights and obligations of its members?
Articles of Organization
Business Plan
Operating Agreement
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Which of the following is a necessary step for an LLC after formation?
Choosing a name
Obtaining licenses and permits
Filing Articles of Organization
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What is a flexible aspect of an LLC's taxation?
Single tax rate for all LLCs
No tax obligations for LLCs
Ability to choose tax classification
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What is the first step in forming an LLC?
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What is an operating agreement in the context of an LLC?
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