4 ms·
you are liable for the taxes on the profits on your share of the ownership regardless of whether or not you see any of it Can you explain?
by sliverstorm 12y ago
you are liable for the taxes on the profits on your share of the ownership regardless of whether or not you see any of it
Can you explain?
- dragonwriter 12y agoIIRC, an LLC can either be separately taxed or a pass-through entity; in the latter case, the LLC members each pay taxes on their share of the LLC's taxable income. This is true even if all of the income is retained in the LLC.