We have a Limited Liability Corporation and would like to purchase a building to house the company. Can we use our profit this year as a down payment without declaring it as income to ourselves? Bill
>
>
>
>
>
>
>
>
>
LLC profit
Jun 12, 2007
3 Replies
No.
No.
The net income of the LLC is taxable to the members regardless of whether it is distributed to them or reinvested in the business. Katie in San Diego
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required