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Get your taxes done using TurboTax
@Cashrob817 wrote:
Would my wife count as another member or still one member if she is listed on the LLC?
If both you and your wife are members of the LLC, then you have a multi-member LLC which, by default, is treated as a partnership for federal income tax purposes.
Note that there is an exception if you both materially participate and hold your interests as community property (since Texas is a community property state).
‎June 28, 2023
12:34 PM