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Discussion Forum Index --> Tax Questions --> S-corp & LLC ownership
Mikespinner (talk|edits) said:
| 28 September 2006
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| Can a non-individual be a shareholder in an S-corp or a member in an LLC?
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Taxref (talk|edits) said:
| 28 September 2006
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| LLCs owned by individuals can be shareholders in an S corp, along with estates and some kinds of trusts. You would need to look to your state laws for the LLC.
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Joecpa (talk|edits) said:
| 28 September 2006
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| Yes to both. But check the details before assuming all entities can be. S corps have more limitations (cannot have C corps as shareholders) and only certain types of entities outside of individuals can be shareholders in S corps. I believe any entity can be a member of an LLC.
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WesR (talk|edits) said:
| 28 September 2006
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| Hi "partnership or LLC owned by indivdiuals" cannot be the beneficial owner of the S corp stock if so you will have an ineligble corp. A partnership can only be the nominee for an eligble shareholder. reg 1.1361-1(e)(1) bye
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