Classification of single-member LLCs to be clarified under final "check-the-box" regulations.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 1997. The length of the article is 652 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: Uncertainty will exist regarding the taxation of one-member limited liability companies (LLCs) until the regulations under IRC section 7701 are finalized. Under current law, there is a risk that single-member LLCs will be treated like associations and subject to taxation as a corporation. Characterization as a branch or trust would be less problematic because no taxation would result at the entity level. Assuming that pass-through taxation will be available to single-member LLCs, such LLCs will be an effective tax planning vehicle.

Citation Details
Title: Classification of single-member LLCs to be clarified under final "check-the-box" regulations.
Author: Steve Montgomery
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n1 Page: 13(2)

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