Self-employment tax for LLC members. (limited liability companies): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on May 1, 1995. The length of the article is 929 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The IRS has ruled that the limited partner exception to self-employment taxation under IRC section 1402(a)(13) is not available to members of a limited liability company unless the member meets certain criteria. This ruling reveals that limited liability company members generally will not receive tax treatment identical to limited partners. To be exempt from self-employment taxation, the limited liability company member must not be a manager and the limited liability company must have been eligible for limited partnership status under local law at the time it was formed.

Citation Details
Title: Self-employment tax for LLC members. (limited liability companies)
Author: Kenneth E. Stoops
Publication:The Tax Adviser (Magazine/Journal)
Date: May 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n5 Page: 273(2)

Distributed by Thomson Gale