Call on The Law Office of Mark D. Stern, located in Goshen New York, Orange County NY, for assistance with Partnerships, LLCs, S-Corps.
In some situations, business owners have reasons for wanting their business to be formed as a limited liability company (LLC). For tax purposes, they might prefer being an S corporation, rather than a partnership, for reasons related to taxes.
For example, an S corporation status may be desired because a partner is subject to self-employment tax on his/her share of the partnership’s trade or business income. An S corporation owner is not subject to self-employment tax on his or her passthrough income or distributions from the S corporation.
Mark D. Stern has extensive experience in Partnerships, LLCs, S-Corps and all matters of Business and Commercial Law. Contact our firm to see how we can put our knowledge and expertise to work for you. Call us at 845-294-7990 or to contact us via email, click here.