Legal Question in Business Law in New Jersey
C Corporation owns LLC
Can a C Corporporation own an LLC and if so are there any tax ramifications?
Asked on 10/16/03, 1:53 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: C Corporation owns LLC
A "C" corporation can have an interest in a LLC, or have a LLC as a shareholder. LLC income is passed through to its members who report their share of income personally or corporately. So, if the LLC has a corporate member, the corporation reports the LLC income just as any other income. If the C corp has a LLC shareholder, it reports nothing from the corp unless there is a dividend or other income distribution.
Answered on 10/17/03, 10:35 am
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