Re: LLC vs. Subchapter S - Posted by Chris
Posted by Chris on February 22, 2004 at 14:36:34:
Why not hold RE in an S corp? If I don’t have partners whats the advantage of an LLC over an S corp?
Thanks
Re: LLC vs. Subchapter S - Posted by John K Haslach, CPA, MST
Posted by John K Haslach, CPA, MST on February 23, 2004 at 04:37:21:
Chris
Some states impose some type of an entity level tax on S Corps. The income from real estate could therefore be subject to tax twice, once at the entity level and a second time at the personal level. Most states do not impose an entity level income tax on LLC’s.
John K Haslach, CPA, MST
Re: LLC vs. Subchapter S - Posted by Chris
Posted by Chris on February 23, 2004 at 10:34:03:
Thanks for your response. I’m not sure where you are located. Do you know if Florida imposes that S corp tax on Real Estate?