Given your answer, which is excellent, the phrase "pass through" has tax implications. that seem to be inconsistent with the current tax law treatment of this kind of income. Where pass through has a flat rate of 20% and not subject to individual rates.
Based on the description as pass through for both, does it mean that an LLC is considered pass through? And if that's the case, does it mean that to take advantage of the current lower tax rate for pass through income, without requiring electing to be an "S" corp?
