Multi-Member LLC
An LLC with two or more owners, taxed by default as a partnership.
A Multi-Member LLC (MMLLC) has two or more members and is taxed by default as a partnership, filing IRS Form 1065 and issuing Schedule K-1 to each member. The structure adds complexity but is required when multiple founders share ownership. For non-residents, an MMLLC owned by foreign individuals may still need to file Form 5472 for transactions with foreign related parties, plus Form 8804 / 8805 for partnership withholding on ECI allocated to foreign partners.
Also known asMMLLC, Partnership LLC
Related terms
- LLC — A U.S. legal-entity form combining the limited liability of a corporation with the pass-through taxation of a …
- Single-Member LLC — An LLC with only one owner, taxed by default as a disregarded entity (sole proprietorship for tax purposes).…
- Form 5472 — The IRS information return required from any U.S. corporation or foreign-owned U.S. disregarded entity with a …
- ECI — Income that a non-resident earns through a U.S. trade or business, taxed at U.S. graduated rates rather than t…