To join in on this discussion, you must first log in.

Discussion:MMLLC taxed as a C-Corp

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

Jump to: navigation, search

Discussion Forum Index --> Accounting Questions --> MMLLC taxed as a C-Corp


Jeff-Ohio (talk|edits) said:

28 October 2013
This is the first time I've ever had to deal with the above.

For F/S purposes, we have common stock vs. members' capital, correct?

The only thing that changes is for tax purposes, it's simply treated as a C-Corp? But what about capital accounts?

Podolin (talk|edits) said:

30 October 2013
I don't know if this is authoritative, but see Chap. 18, which gives good guidance on your question. http://www.aicpa.org/InterestAreas/FRC/AccountingFinancialReporting/PCFR/DownloadableDocuments/FRF-SME/FRF-SMEs-Framework.PDF

EmpireCPA (talk|edits) said:

19 November 2013
See ASC 272-10-45-3

"45-3 The financial statements of a limited liability company shall be similar in presentation to those of a partnership. " There is additional guidance on presentation matters in this section of the ASC.

To join in on this discussion, you must first log in.
Personal tools