Your wrong on that one. If the LLC shows income of $50,000 no matter if it pays its members all of it in salary or none of it, it is still $50,000 in income and is taxed as that. The LLC does not pay any taxes on that $50,000, the members do. So if it is given as a salary, that salary is taxed on the member. If it is profit, it is profit to the member and is taxed as such. I've been in an LLC for the last ten years and it has never paid any taxes. As a member I do though. It all gets sorted out in the K1's that the LLC must file with the IRS.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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