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Business & farm
@jennidez43 wrote:
....I want to change the structure from sole proprietor to a Single Member LLC.
That is essentially the same structure for federal income tax purposes.
A single-member LLC is treated as a disregarded entity by the IRS (i.e., treated the same as a sole proprietorship) so there is nothing you need to transfer in terms of inventory.
‎December 7, 2022
8:17 AM