1. Describe the circumstances under which a partnership would offer greater tax advantages than a corporation.  2. Explain why it is somewhat misleading to assert that the corporate form provides...

1. Describe the circumstances under which a partnership would offer greater tax advantages than a corporation.

 2. Explain why it is somewhat misleading to assert that the corporate form provides limited liability for its owners, whereas the partnership form saddles its owners with unlimited liability.

3. What is a single tax advantage of a limited liability company?