IRS issues new guidance on compensating employees with LLC and partnership interests
By Michael T. Donovan & Joseph E. Bender
Corporate Law Departments,
December 2001
Partnerships and limited liability companies that compensate their employees with interests in their business have long relied on an Internal Revenue Service ruling that an employee (or other service provider) who received a "profits interest" in a partnership or LLC as compensation for services rendered generally is not taxed upon receipt
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