A limited liability company(LLC) does not require the firm to hold annual meetings and it can avoid double taxation. Therefore, it is an attractive form of business ownership in comparison to C corporation.
LLCs are taken into consideration as pass-thru entities for the cause of US taxation; they do not record taxes of their personal right, however, have their earnings mentioned in the non-public earnings tax returns of their owners. C groups record their personal tax returns.
Thus, the correct fill-in-the-blank is a limited liability company that does not require the firm to hold annual meetings and it can avoid double taxation.
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