Self-employment tax and the LLC member: a uniform approach. (limited liability company): 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, 1997. The length of the article is 635 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: Proposed regulations under IRC section 1402 will replace rules for determining the self-employment tax obligations of limited liability company (LLC) members that were based on state limited partnership laws. Members will be treated like limited partners unless they are personally liable for partnership debts, have contracting authority or participate in the trade or business more than 500 hours per year. If members fail this test solely because they participated over 500 hours, they may still be treated as limited partners by qualifying for one of two exceptions.

Citation Details
Title: Self-employment tax and the LLC member: a uniform approach. (limited liability company)
Author: Steven G. Pierson
Publication:The Tax Adviser (Magazine/Journal)
Date: May 1, 1997
Publisher: American Institute of CPA's
Volume: 28 Issue: n5 Page: 281(2)

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