A business organization that is formed under federal tax law is the Limited Liability Company which is considered a corporation but is taxed like a partnership.
<h3>What is tax law?</h3><h3 />
There are some legal rules that are made by the higher authority, in which it is stated how much the state, local, and federal governments will apply the charge to the individual.
These rules are known as the tax law. Apart from the charges it also covers various things, such as procedures, policies, and penalties that are in the context of everything that has to do with tax issues.
Thus, a Limited Liability Company can be considered a corporation but is taxed like a partnership.
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