Posted by: DariusBarazandeh
03/31/2004, 14:41:36
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You can choose to have your LLC taxed as a corporation under the IRS check the box regulations. This means that you would get corporate tax rates. This is much better than your personal tax rates. The LLC is still a good asset protection mechanism, however the issue is whether or not the single member LLC will be pierced in other courts. We have seen this happen in Colorado so for the time being we are waiting to see if it could happen in other jurisdictions. Until then I suggest a C-corp but it does depend on the situation.
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