The application of self-employment tax to limited liability companies: a critical analysis
One of the significant issues that has arisen in connection with limited liability companies (LLCs) electing to be taxed as a partnership is the application of self-employment tax to its members. The issue of when an LLC member's distributive share of LLC income is subject to self-employment ta...
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Published in | Journal of applied business research Vol. 23; no. 3; pp. 87 - 93 |
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Main Author | |
Format | Journal Article |
Language | English |
Published |
01.01.2007
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Subjects | |
Online Access | Get full text |
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Summary: | One of the significant issues that has arisen in connection with limited liability companies (LLCs) electing to be taxed as a partnership is the application of self-employment tax to its members. The issue of when an LLC member's distributive share of LLC income is subject to self-employment tax has not been definitively answered. This paper reviews the current rules on when an LLC member's distributive share of LLC income is subject to self-employment tax and analyzes proposals that have been made to clarify the law in this area. |
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Bibliography: | ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23 |
ISSN: | 0892-7626 |