Discussion:Foreign LLC Partner

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Shep143 (Talk | contribs)
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{{ForumNewPost|UserID=Shep143|Date=10 November 2006|Text=I was speaking to a possible new client today. They have a two partner LLC where one partber is a foreign resident who visits the US several times a year. The other partner is a US resident. Can anyone give me some imput on what his tax situation is? Any information would be appreciated. Thanks.}} {{ForumNewPost|UserID=Shep143|Date=10 November 2006|Text=I was speaking to a possible new client today. They have a two partner LLC where one partber is a foreign resident who visits the US several times a year. The other partner is a US resident. Can anyone give me some imput on what his tax situation is? Any information would be appreciated. Thanks.}}
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 +{{ForumReplyPost|UserID=Foxttron|Date=10 November 2006|Text=The LLC should be run as a regular partnership (if no "check the box") but you have QUATERLY 8804 and 8805 requirements. Read the instructions. It can be a lot of work for the accountant.}}

Revision as of 20:54, 10 November 2006

Discussion Forum Index --> Tax Questions --> Foreign LLC Partner

Shep143 (talk|edits) said:

10 November 2006
I was speaking to a possible new client today. They have a two partner LLC where one partber is a foreign resident who visits the US several times a year. The other partner is a US resident. Can anyone give me some imput on what his tax situation is? Any information would be appreciated. Thanks.

Foxttron (talk|edits) said:

10 November 2006
The LLC should be run as a regular partnership (if no "check the box") but you have QUATERLY 8804 and 8805 requirements. Read the instructions. It can be a lot of work for the accountant.