Limited liability corporations (LLCs) can choose to be taxed as S Corporations or as partnerships. Can you explain the difference? The Internal Revenue Service doesn't recognize LLCs as a distinct taxable entity and, instead, refers to them as pass-through entities. The default taxation method for an LLC is as a partnership if there's more than one owner. In the case of an LLC with only one member, the entity is taxed as a sole proprietorship. Persons with partners should focus on the multi-member LLC. While the default taxation method for their new entity is as a partnership, they can choose to file an election to be taxed as an S Corporation. An S-Corp is an entity that has properly elected to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. A partnership and an S Corporation are both pass-through entities, meaning both are taxed at the owner-level. Therefore, taxes on any income from the business are paid by the owners when they file their personal tax returns. … [Read more...] about LLCs can be taxed as S Corps or partnerships
S corp election
opinion David Plazas Nashville Tennessean Published 6:39 PM EDT Oct 8, 2018 Editor's note: The Tennessean Editorial Board invited U.S. Senate, gubernatorial, and Middle Tennessee congressional and legislative candidates to fill out our survey. Find this candidate's answers below. Replay statewide candidate interviews with the editorial board. Philip “Phil” Norman Bredesen, candidate for U.S. Senate Age: 74 Residence: Nashville Education B.A. in Physics from Harvard University Job history Founder & CEO, HealthAmerica Corp., Mayor of Nashville, Governor of Tennessee, Chairman of Silicon Ranch Family Andrea Conte, wife; Ben Bredesen, son What makes you qualified to hold this office and better qualified than your opponent? I’m running for the Senate because I have the right kind of experience and the actual track record of working across party lines to help fix the mess in Washington and bring common sense back to our government. … [Read more...] about Tennessee U.S. Senate election: Meet Phil Bredesen
HOUSTON, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today that it has elected Ms. Beth A. Bowman to the Board effective September 7, 2018 and increased the size of its Board of Directors from ten to eleven directors. Ms. Bowman has served as a director of Sprague Resources GP LLC, the general partner of Sprague Resources LP (“Sprague”), since October 2014, and she currently serves on the Audit Committee of Sprague. Ms. Bowman held management positions at Shell Energy North America (US) L.P. (“SENA” or “Shell”) for 17 years until her retirement in September 2015. While at Shell, she held the roles of Senior Vice President of the West and Mexico and later as the Senior Vice President of Sales and Origination for SENA’s North America business. Prior to joining Shell, Ms. Bowman held management positions at Sempra Energy Trading and Sempra’s San Diego Gas … [Read more...] about Targa Resources Corp. Elects New Board Member
The chief financial officer of national retailer Kohl's Corp. (NYSE: KSS) is joining the board of directors of Diebold Nixdorf (NYSE : DBD ).North Canton-based Diebold Nixdorf, a producer of automated teller machines and provider of financial services software, announced in a news release that Bruce H. Besanko has been named to the company's board of directors as an independent director. Effective immediately, Besanko will serve on the board's finance committee and will replace outgoing director Rajesh K. Soin, who was first elected to the board of Diebold Inc. — the predecessor to Diebold Nixdorf — in 2012.Besanko has been CFO at Kohl's since 2017. Before that, he spent four years with SUPERVALU, a national food retailer, in financial leadership roles, including chief operating officer and CFO, and five years as CFO and chief administrative officer for OfficeMax.In addition to his business experience, Besanko served 26 years in the U.S. Air Force where he rose to the rank … [Read more...] about Diebold Nixdorf appoints to its board the CFO of Kohl’s Corp.
Democratic pollster Nancy Zdunkewicz said Monday the upcoming 2018 midterms will be the "Me Too" and Women's March election, marking a new era for women voters. "This is a whole different election," Zdunkewicz, who is the managing director at Democracy Corps, told Hill TV's Joe Concha on "What America's Thinking." "This is the 'Me Too,' Women's March election, and I think you're really going to see that really power much bigger turnout among women, especially unmarried women, and increasingly college-educated women who are high-turnout voters. They are really not fans of this president," she continued. The first Women's March took place one day after President TrumpDonald John TrumpMichelle Wolf in July Fourth salute: 'God bless abortions and God bless America' Graham: Trump's Supreme Court picks 'all winners' Man arrested after allegedly threatening to kill Trump supporters, GOP lawmaker MORE was sworn in as president, while the "Me Too" movement was launched … [Read more...] about Dem pollster: This is the ‘Me Too, Women’s March’ election