Discussion:Members of LLC
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Discussion Forum Index --> Tax Questions --> Members of LLC
| 5 July 2007 | |
Can an LLC (filing Form 1065) have the following members:
Two individuals and a foreign limited partnership (filing Form 1065) | |
| 5 July 2007 | |
| Multi member LLCs are obliged to follow the same rules as any other partnership, so the quick answer to your question is yes.
There may be additional reporting rules about this though, so you'll want to research it. | |
| 9 July 2007 | |
| A more precise answer would be to say that a multiple member LLC which hasn't made an election to be treated as a corporation is by default considered a partnership. The question, then, is whether a partnership can have a partnership as a partner. The answer is yes.
BethAZ is right, BTW, in that there are additional complexities related to the foreign partner... | |
| 12 July 2007 | |
| As I understand it, the LLC (filing Form 1065) that has a foreign member would be required to file Forms 8804, 8805 and 8813 to withhold taxes on the share of income for the foreign member.
I don't think there is any other form that would have to be filed as a result of having/being a foreign member. The other forms, such as Form 5471 applies to corporations, not partnerships. | |
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