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Discuss the equity of allowing the llc form of business

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Reference no: EM132840626

Prior to 1995 the only way to get the benefits of limited liability like a corporation while getting the flow through taxation benefits of a partnership was to use an S Corp structure. At that time the maximum number of shareholders allowed to be in a given S corp was 35, making it generally only available to smaller entities, although there were some exceptions. With the emergence of LLC's the number of "partners" is unlimited.

Problem 1: Discuss the equity (fairness) of allowing the LLC form of business to have the protections of a corporation with the partnership tax benefits. What does it mean to business formations? Owners? Other Taxpayers? and Competing entities?

Reference no: EM132840626

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