Tag: single member LLC

Single Member LLC Definition A Single Member LLC definition is a limited liability company with one member. It’s a type of entity that has caught on across the United States. It was created to satisfy emerging needs from the rapidly changing business world. One example of this is the owner/member requirements of limited liability companies.

Single Member LLC Definition Single Member Limited Liability Companies are LLC’s wholly owned by one member. The Internal Revenue Service (IRS) treats these companies as “a disregarded entity” in tax terms. The entity is disregarded as separate from the member for income tax purposes. In other words, the business’s income flows through to the owner’s