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August 2017 Archives

DO NOT CONFUSE "LLC" WITH PARTNERSHIP TAXATION

This article by a Colorado lawyer is the second attorney I have found who is using the term LLC as an apparent shorthand for a limited liability company taxed as a partnership. All of the reasons he cites are good reasons not to use an LLC are reasons not to choose partnership taxation for your limited liability company. Some of them may also be reasons not to elect S corporation status for the LLC. These are reasons to have your entity taxed as a C Corporation.

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