2016 Postmortem

COLGATE4

(14,732 posts)

41. That is correct. But the whole point of creating the

Thu Apr 14, 2016, 09:23 AM

Apr 2016

business organization known as an LLC was to lessen the burden on small businesses (very often one-man shows or general partnerships) by 1) providing them with tort liability protection for their personal assets and 2) have a much less complicated tax situation than that of an 'S' corporation (the only other vehicle availale before the creation of the LLC). I suspect this choice was put in the law to help tax filers who were already set up as an S corporation. I would hazard to guess that about 99% of businesses today go LLC opt for the immediate pass-through option rather than incorporating as an 'S'corp.

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About the Clintons parking income in Delaware to avoid paying taxes.... [View all] RiverLover Apr 2016 OP

Funny how none of this is being brought up... nt Else You Are Mad Apr 2016 #1

Right? RiverLover Apr 2016 #2

Could it be a 5 Node Hop? Delaware > Canada > Ireland > England > Luxembourg TheBlackAdder Apr 2016 #31

Imagine if Bernie had 5 shell corporations in Delaware to avoid taxes Cheese Sandwich Apr 2016 #32

Article Is From 2012 and Doesn't Involve the Clintons Stallion Apr 2016 #3

Why didn't they set up their LLCs where they live? RiverLover Apr 2016 #4

The Residence of Individual Shareholders Has No Bearing on Where a Corporation is Incorporated Stallion Apr 2016 #5

I realize that. And the answer is they did that to AVOID PAYING THEIR TAXES. /nt RiverLover Apr 2016 #6

You Want to Learn Something or Just Spout Nonsense Stallion Apr 2016 #9

Your source is hillaryclinton.com. LOL RiverLover Apr 2016 #11

Geez-I Linked to the Clinton's Actual Income Tax Return Reporting to the Internal Revenue Service Stallion Apr 2016 #12

I'm sorry, but the only reason to set up corporations(2 for Bill & Hill & 3 for their foundation) RiverLover Apr 2016 #14

Deleware Does Have an Corporate Income Tax But I'll Let a Deleware Attorney Handle The Details Stallion Apr 2016 #16

Stallion, thanks for your knowledgeable response karynnj Apr 2016 #46

Educate yourself a little before spouting off. COLGATE4 Apr 2016 #28

It Can Be Set Up in Two Different Ways I Believe Stallion Apr 2016 #34

That is correct. But the whole point of creating the COLGATE4 Apr 2016 #41

I think you've done a good job of making your point kristopher Apr 2016 #44

were do you get 40 mil? questionseverything Apr 2016 #55

It Was just a Quick Estimate of the Revenue Based on Flipping Through the 5 Separate Schedule Cs Stallion Apr 2016 #56

just seems odd after you representing yourself as an expert that you didn't look at page 2 questionseverything Apr 2016 #57

Yea I Amended My Answer-I was Trying to Get Everybody to Realize that there Were 6 Schedule Cs Stallion Apr 2016 #58

ok np but pls answer about state taxes questionseverything Apr 2016 #59

Why Don't You Do That? Stallion Apr 2016 #60

i asked because you represented yourself as an expert,ss questionseverything Apr 2016 #61

See Post 16-I Never Represented Myself as an Expert on Deleware State Income Tax Law Stallion Apr 2016 #62

Clintons Demonstrating Their Patriotism? CorporatistNation Apr 2016 #24

They could have set up in Florida or any COLGATE4 Apr 2016 #25

lol Hiraeth Apr 2016 #48

Did you take your standard deduction on your taxes this year? COLGATE4 Apr 2016 #49

omg. you have got it backwards. the only difference is the morality NOT the amount. The Hiraeth Apr 2016 #50

I did not ask you for your private data, merely asking COLGATE4 Apr 2016 #54

Bullshit. Never said that. You asked questions. I answered.We are done here. Hiraeth Apr 2016 #63

Did they pay their state taxes? JDPriestly Apr 2016 #52

I was scolded and told that it's legal so I should shut up and die. CentralCoaster Apr 2016 #7

ROFL! RiverLover Apr 2016 #8

No, it's actually sad to see people making COLGATE4 Apr 2016 #29

It is sad that a tax cheat under FBI investigation for federal crimes ag the US is our RiverLover Apr 2016 #36

You keep saying 'Tax Cheat' and yet you can't COLGATE4 Apr 2016 #38

The OP provides the back up. hello? Spin, spin, spin. RiverLover Apr 2016 #40

None so deaf as those will not listen. COLGATE4 Apr 2016 #42

A corporate HQ that's nothing but a PO Box is fraud all by itself. I know what the office at brewens Apr 2016 #10

It IS fraud, made legal by our congress. And it costs US big. RiverLover Apr 2016 #13

How Many Times Do We Have to Go Over these Ridiculous Arguments Stallion Apr 2016 #15

to avoid paying higher taxes in new york. no other reason. just cause it's legal Viva_La_Revolution Apr 2016 #17

And Your Legal or Accounting Expertise for those Conclusions Are What? Stallion Apr 2016 #18

this allows the money to bypass new york. Viva_La_Revolution Apr 2016 #19

No the LLC Revenue Flows DIRECTLY to the Clinton's INDIVIDUAL Return Stallion Apr 2016 #22

Delaware does not tax LLC's. New York does. using loopholes is legal, not right Viva_La_Revolution Apr 2016 #23

No, you're wrong. The whole purpose of a LLC is that COLGATE4 Apr 2016 #27

then explain why Delaware is different, and Nevada and SD? Viva_La_Revolution Apr 2016 #30

For all I know Delaware was easier for them COLGATE4 Apr 2016 #33

How Delaware Thrives as a Corporate Tax Haven Viva_La_Revolution Apr 2016 #35

As I already explained to you in some detail COLGATE4 Apr 2016 #39

None of these folks want to hear the actual facts. They COLGATE4 Apr 2016 #26

Kickity Left Brain Apr 2016 #20

When I was forming my corporation decades ago hollysmom Apr 2016 #21

*Take Action* against secret companies in Delaware and the US RiverLover Apr 2016 #37

You do realize that. in order to form an LLC COLGATE4 Apr 2016 #43

Kick DebDoo Apr 2016 #45

Where'd they get the idea that some people are better than others, anyway? Octafish Apr 2016 #47

Why isn't THIS a major topic in the democratic debates? TheDormouse Apr 2016 #51

any chance CNN will ask about this in the Brooklyn forum? place your bets TheDormouse Apr 2016 #53