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Business & farm
Wow! Lots to consider. So are youu saying that the original response to the original person's question that stated
Yes, you can have a partner with 0% interest. There are no federal guidelines for the establishment of partnerships and therefore no minimum interest amount that a partner can have in a company.
is incorrect?
If you're concerned about the answer mentioning partner and not member, I'd like to point out that
IRS Publication 541 (March 2022) states:
A domestic LLC with at least two members that doesn't file Form 8832 is classified as a partnership for federal income tax purposes.
May 19, 2022
8:43 AM