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Updated about 6 years ago on .
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LLC Income tax free to another LLC?
Does anyone have income from one LLC flow directly to another LLC that they own?
I own 25% of an LLC for flipping houses and similar. I own 50% of another LLC for building homes here and there. I am thinking to open a third LLC which I would own 100% of and have my percentage of the income from the other two flow this one. Mainly for 2 reasons: vehicle bonus depreciation (that way it is not split across the partners of my other firms) and to show banks a consolidated income stream from a single source for borrowing purposes.
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#5 Tax, SDIRAs & Cost Segregation Contributor
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#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
The default tax classification of a SMLLC is a disregarded entity. If you have a SMLLC own your partnership interests nothing changes presentationally or numerically for federal tax purposes.