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06-12-2019
Social Studies

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Custom Auto Body & Detailing, LLC, is a limited liability company. Its members include Dennis and Estelle. Like other LLCs with more than one member, unless indicated otherwise, the firm will automatically be taxed as

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09-12-2019

Answer:

It will be taxed as a partnership.

Explanation:

An LLC with more than one member will always be taxed as a partnership, as the IRS doesn't recognize LLCs as business entities for tax purposes. The partnership will have to file an information return on IRS Form 1065 to pay its taxes.

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