True or False QuestionTrue or false: It is mandatory for the members of a limited liability company (LLC) to file estimated taxes on a regular basis.True false question.TrueFalse
Question
True or False QuestionTrue or false: It is mandatory for the members of a limited liability company (LLC) to file estimated taxes on a regular basis.True false question.TrueFalse
Solution
True. Members of a Limited Liability Company (LLC) are considered self-employed and must therefore pay self-employment tax (Social Security and Medicare) on their share of the profit. This is typically done through estimated tax payments on a quarterly basis. However, it's always best to consult with a tax professional for specific advice.
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