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 - A Farmall Story - by Ed Meadors. The year was 1978. Our young family had recently moved to rural Chesapeake, Virginia to a plot of land which would finally allow us to realize our dreams of a huge garden, critters and more lawn and pasture than we would ever use! We needed a TRACTOR; not a riding mower or tractor wannabe, but a real TRACTOR. The answer to our needs materialized in the form of a '44 Farmall A, complete with cultivators, discs, single plow, a 5ft.Woods belly mower and one, mounted spare 9.00x24 rear wheel.
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