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How does taxation change for an LLC when the S-Corporation election is made? How does taxation change for an LLC when the S-Corporation election is

How does taxation change for an LLC when the S-Corporation election is made?
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How does taxation change for an LLC when the S-Corporation election is made? The LLC now has an entity (corporate) level tax The LLC can separate reasonable compensation and distributions The LLC can benefit from retaining its earnings The LLCs can now enjoy lower corporate tax rates

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