Asked by Preston Heffington on May 19, 2024

verifed

Verified

Like other limited liability companies, for federal jurisdictional purposes, Rodeo Productions LLC is most likely a citizen of

A) all states in the United States.
B) every state of which its members are citizens.
C) any state in which it does business.
D) no state-an LLC is not a "citizen."

Federal Jurisdictional Purposes

The purposes for which federal law or courts have the authority to apply, hear, and decide on legal matters or disputes.

Citizenship

The status of being a recognized member of a state, with rights and duties.

  • Understand the guidelines and potential outcomes of setting up and managing a business entity across various state jurisdictions, including foreign limited liability companies.
verifed

Verified Answer

MP
Mikey PatrickMay 23, 2024
Final Answer :
B
Explanation :
For federal jurisdictional purposes, a limited liability company (LLC) is considered a citizen of every state of which its members are citizens. This is because, unlike corporations, which are treated as separate legal entities with a specific citizenship, the citizenship of an LLC is determined by the citizenship of its members.