Is an LLC the same thing as a corporation 2024?

Carter Kim | 2023-05-08 00:38:51 | page views:1184
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Amelia Thomas

Studied at the University of Vienna, Lives in Vienna, Austria.
If the corporation qualifies as an S corporation and elects to be treated accordingly by the IRS, its is not taxed except on passive income and profits are allocated to shareholders. LLCs can receive four different types of tax treatment: A one-member LLC can be disregarded and its income attributed to the member.
2023-05-16 00:38:51

Isabella Gonzales

QuesHub.com delivers expert answers and knowledge to you.
If the corporation qualifies as an S corporation and elects to be treated accordingly by the IRS, its is not taxed except on passive income and profits are allocated to shareholders. LLCs can receive four different types of tax treatment: A one-member LLC can be disregarded and its income attributed to the member.
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