I set up a LLC last year with one other partner(total 2 partners). For tax purposes, we're filing form 1065, return of partnership income. Do we need to file Schedule M-3 if 2 partners equally own 50% of capital, profit and loss? Thank you!
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김운수 님 답변 [머니/재테크]답변일1/20/2010 9:07:01 PM
Because you are individual partner rather than entity partner, you are not subject to file schedule M-3.
Also, schedule M-3 is for Large and Mid-Size Businesses which have total assets of $10million or more, or total receipts of $35million or more.