LLC & S Corp

Nina,

An LLC is the same way.  Everything passes down to the LLC "Members"
(owners/partners) 1040 and is taxed at the personal rate.  But only
taxed one time.  No Corp taxes and personnel taxes.

I do not know the difference between an S Corp and LLC....but LLC is
what we are (Cornerstone Communications, LLC).  Our venture capitalist
pretty much insisted on it and our attorneys & accountants thought it
was good.

Bob


-----Original Message-----
From: nina jones <ddi@datadesigninc.com>
To: MIDRANGE-L@midrange.com <MIDRANGE-L@midrange.com>
Date: Saturday, February 27, 1999 11:08 AM
Subject: Re: POSSIBLY Incomplete Message: RE: PID 1% lease


>> Same is true for an S corp.
>
>an S corp allows you to have corporate protection, but take your taxes
based on your
>personal tax rate.  it used to allow you to defer your taxes based on
your tax year, but
>the irs did away with that several years ago.
>
>you can get an attorney to set it up for you for several hundred
dollars.
>
>nj (cpa)
>
>
>
>
>

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