39-51-207. Treatment of limited liability companies.
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/mt/title-39/chapter-51/part-2/39-51-207A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
39-51-207 . Treatment of limited liability companies. For the purposes of this chapter, a limited liability company is treated as follows:
(1)as a sole proprietorship if it is a single-member limited liability company;
(2)as a partnership if it consists of more than a single member and it is not established as a corporation pursuant to the provisions of the Internal Revenue Code for income tax purposes; or
(3)as a corporation if it is classified as a corporation for income tax purposes pursuant to the Internal Revenue Code.