by cdaaccounting | Jan 20, 2022 | Business
Yes. An Idaho LLC may distribute profits to its partners in disproportion to their share of the capital, provided that: The distribution of profits is explained in the operating agreement; and no partner is excluded from the distribution of profits entirely. For Tax...
by cdaaccounting | Jan 5, 2022 | Business
Yes. After a reasonable wage has been met, all other profits will be disbursed to owners/shareholders through a K-1 form. This disbursement is not subject to Idaho self-employment taxes but taxed as ordinary income on Idaho owners/shareholders tax return. For Tax...
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