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Discussion:MMLLC taxed as a C-Corp

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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.

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.

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