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What is the income tax rate if it is not withdrawn from the…

Hi! What is the income...
Hi! What is the income tax rate if it is not withdrawn from the LLC? The owner has not withdrawn any balance from the business all the amount reinvested into the business. Thank you!
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Answered in 3 hours by:
8/17/2017
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,998
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Any profits "pass through" the business to each member of the LLC, whether or not any profit is withdrawn from the business. The LLC member reports profits and losses on their personal federal tax returns.

The following link contains excellent information you will find helpful:

https://www.sba.gov/blogs/6-things-you-need-know-about-your-tax-responsibilities-llc

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Just following up with you to see if you have any other questions. If so, please let me know so I can further assist you.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,998
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Customer reply replied 9 months ago
Dear Barba,What do you think for LLC's cash-flow, is it logical do not include an income tax?
Customer reply replied 9 months ago
only to include a calculation Estimated Taxes?

A sole member LLC (sole proprietorship) pays income tax and self-employment (Social Security and Medicare) taxes.

You should make quarterly estimated tax payments.

Thank you for the positive rating of my answer and generous bonus. Both are very much appreciated.

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Barbara
Barbara
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