Members Liable For Taxes of the Company

The IRS and State agencies are asserting members/managers of LLCs are liable for various payroll, excise and other taxes and penalties. Generally such persons have been not been considered liable, but recent cases have shown otherwise. In addition, payroll taxes of LLCs must now be reported using the LLC's federal identification number instead of the member's social security number. Please make sure your LLC is paying all appropriate taxes on time. Contact us or your attorney if you have questions.