K-1 and Tax Return for LLC

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K-1 and Tax Return for LLC

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Patches_OHalahan

posts: 1

Sep 30, 2009 1:07 AM ET Quote Report Abuse

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I am a minority investor in an LLC. I have received the K-1 for the company, but would like to see the return as well. Does the LLC have a legal obligation to supply me with the tax return for the company?

business_JCG

posts: 21

Oct 02, 2009 10:23 AM ET Quote Report Abuse

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Hi Patches_ohalahan

In general the LLC is obligated to provide you with the K-1. However you should review the LLC operating Agreement to determine whether a provision has been made to inspect the books and records and/or tax returns. To the extent the Operating Agreement is silent on this point you should review the basic rights of a member under the specific state in which the LLC was formed to determine whetther you have the right of receipt or inspection of Tax Return.

Mike Janicki

www.janconsultinggroup.com

mjanicki@janconsultinggroup.com

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K-1 and Tax Return for LLC

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