The LLC (limited liability company) business entity type is one of the most popular selected by small business owners. It shields the owner’s personal assets from the liabilities of the business and may result in some tax savings to boot. The LLC is an entity formed according to state statute, and it has flexibility in how income taxes are applied at the federal level. Continue reading “What Is The LLC Tax Rate?”
What Is The LLC Tax Rate?
The LLC (limited liability company) business entity type is one of the most popular selected by small business owners. It shields the owner’s personal assets from the liabilities of the business and may result in some tax savings to boot. The LLC is an entity formed according to state statute, and it has flexibility in how income taxes are applied at the federal level. The IRS gives LLC members (its owners) the option to be taxed as a sole proprietorship (or partnership if multiple owners) or a corporation.