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What is the difference between single member or multiple members LLCs?

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  • What is the difference between single member or multiple members LLCs?

    Generally, Limited liability Company (LLC) can be formed with unlimited numbers of shareholders. In such a case it is called multiple members LLC. Nevertheless, most states also permit "single member" LLCs, those having only one owner. A single-member LLC is taxed as a sole proprietorship, while a multiple-member LLC is taxed as a partnership.
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    Re: What is the difference between single member or multiple members LLCs?

    Single member LLC should be a corporation to take the advantage of the tax pay,that is the single member has to fill a Schedule C form which can cover all the business expense and also the individual expenses as well. Thanks for the information on the single member LLC.

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