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This is a new business.
Probably. As a partnership.
We have substantial assets and will not be operating the business ourselves. With the incorporation we were looking at the limited liability. We don't want to jepordize the other assets. We will start this business with us putting in $150,000 and our daughter running the business. We wanted the s-corp to get taxed just once and our individual rates are probably in the 15% range.
Don't s-corps just get taxed on the personal level of the stock holders that receive pass through income? Aren't they essentially LLP's without stock? Whay an LLP instead of an s-corp?
I don't understand the difference between "income whether distributed or not" and "actually pass through." Not trying to be difficult or dumb, just trying to understand your answers.
But isn't the same thing true if the partners make income and decide to reinvest it in the business?
I only rated you bad because I thought the conversation had ended without having understood your answer. Thanks for continuing.