Question

Which of the following is false regarding a limited liability partnership?

A. A limited liability partnership is considered a separate legal entity.

B. Limited liability partnerships are fairly new.

C. The business name must include "Limited Liability Partnership" or an abbreviation in the name.

D. The parties must file a form with the secretary of the state to create a limited liability partnership.

E. Each partner pays taxes on his or her share of the income of the business.

Answer

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