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Partnership or LLC or What-Have-You?

I have a partner in a business. Our shares aren't equal, but we'd like to set up a business (like an LLC or something, to protect us individually from liability). We're paid a sum of money once each month, and the next day, we'd each withdraw our percentage to our personal bank accounts.

I don't want to have to file corporate taxes - the "company" would never incur any expenses on its own, it'd never carry a balance for more than a day or so at a time, and all money would be disbursed, at the set percentages, to two people.

Is this possible?

P.S. I live in PA, my partner lives in CA.

One Response to "Partnership or LLC or What-Have-You?"

  1. Page 32 describes the differences in PA.

    The tax structure for the LLC is that is "passes through" to be filled out on your personal income tax return. Yours would be a multi-member LLC and you could set up the distribution % in your operating agreement.

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