Question

what is a hybrid business structure allowed by state statute?
s corporation
limited liability company
limited corporation fixed
none of the above

Explanation:

A Limited Liability Company (LLC) is a hybrid business structure. It combines the pass - through taxation of a partnership or sole proprietorship (where profits and losses pass through to the owners' personal tax returns) with the limited liability protection of a corporation (owners' personal assets are generally protected from the company's debts and liabilities). S Corporations are also pass - through entities but have more restrictions on ownership (e.g., limited to a certain number of shareholders and only one class of stock). "Limited Corporation Fixed" is not a standard recognized business structure.

Answer:

Limited Liability Company