How Are Llc Partners Taxed?
The limited liability company (LLC) form of business is the newest invention in business forms. It’s also the most flexible, especially when it comes to taxes. An LLC can be taxed in several different ways to save on taxes for the business and its owner.
How does a multi member LLC get taxed?
Instead a multi-member LLC only files an informational partnership tax return referred to as an IRS Form 1065. Then its members receive a K-1 for their share of the profits or loses. By agreement, this amount can be distributed disproportionate to ownership percentage.
