How is a South Dakota Limited Liability Company (LLC) taxed?

Just like sole proprietorships and partnerships, a South Dakota Limited Liability Company (LLC) is usually not considered a separate and distinct entity from its owners for tax purposes. This means that the LLC does not generally pay any income taxes itself. Rather, the LLC owners pay taxes on their share of profits (or deduct their share of business losses) on their personal tax returns.

 

About Swier Law Firm's Business & Corporate Practice Group

Swier Law Firm's Business & Corporate Practice Group handles the following types of cases:

  • Cyber Law and Cyber Security
  • Limited Liability Companies (LLCs)
  • General Partnerships and Limited Liability Partnerships
  • Joint Ventures and Strategic Alliances
  • C Corporations and S Corporations
  • Trademarks and Copyrights
  • Real Estate
  • Wind Energy Transactions
  • Corporate Governance
  • Corporate Dissolution
  • Conducting Internal Investigations for Boards, Board Committees and General Counsel
  • Preparing, Revising and Updating Governance and Compliance Materials, including Bylaws,
    Committee Charters, and Compliance Policies.

To learn more about business and corporate legal issues in South Dakota, contact Swier Law Firm.