Legal Question in Business Law in Texas
Alien coowner's personal income and taxing in LLC
I am a Slovak Republic (Europe) citizen and I am planning on starting a LLC with my friend (he is a US citizen) in Texas. We both will be owners of the LLC. Is it legal for me to have personal income from such LLC even if I don't have a green card? How will I be taxed? Thank you!
Asked on 9/16/02, 2:00 am
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Alien coowner's personal income and taxing in LLC
It is legal for you to be part owner in an LLC. You will receive your proportionate share of the LLC's income.
Not sure how you'll be taxed. You'll need to talk with a CPA that's knowledgeable in tax law.
Answered on 9/16/02, 9:19 am
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