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I need some advise as to the LLC Rocket Lawyers completed

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I need some advise as...
I need some advise as to the LLC Rocket Lawyer's completed and obtained the Tax ID# XXXXX December 2011. I have been told by outside sources that we need to have the managing member having 100% of ownership, do to the fact that preparing our IRS Taxes with split percentages would be much more costly. I also need to know how to purchase/obtain a LLC Kit.
(As to the tax issue the outside source I spoke with has an Arkansas LLC and ours is Texas LLC so that could be the difference in LLC Laws in regards XXXXX XXXXX issues.)
Submitted: 5 years ago.Category: Business Law
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Answered in 8 minutes by:
2/1/2012
Business Lawyer: Loren, Attorney replied 5 years ago
Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 35,822
Experience: 30 years experience representing clients .
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If you have a single member LLC then the taxes are reported on the sole member's 1040. No separate return is filed. If there are multiple members then the LLC must file a partnership return and K1s would be issued to each member with their share of the income to be included in their individual returns.

You can get LLC forms from commercial form sites such as legalzoom.com.
Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 35,822
Experience: 30 years experience representing clients .
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Loren
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