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nadezda [96]
3 years ago
9

ranite Slab LLC was recently formed with the following members: Capital/ Name Tax Year-End Profits % Nelson Black December 31 22

.0% Brittany Jones December 31 24.0% Lone Pine LLC June 30 4.5% Red Spot Inc. October 31 4.5% Pale Rock Inc. September 30 4.5% Thunder Ridge LLC July 31 4.5% Alpensee LLC March 31 4.5% Lakewood Inc. June 30 4.5% Streamside LLC October 31 4.5% Burnt Fork Inc. October 31 4.5% Snowy Ridge LP June 30 4.5% Whitewater LP October 31 4.5% Straw Hat LLC January 31 4.5% Wildfire Inc. September 30 4.5% What is the required taxable year-end for Granite Slab LLC
Business
1 answer:
tamaranim1 [39]3 years ago
4 0

Answer: December 31

Explanation:

Granite Slab should adopt the year-end of its principal partners.

A principal partner is one who owns 5% or more of a company's stock.

There are therefore two (2) principal partners here: Nelson Black and Brittany Jones as they own 22% and 24% respectively.

Both of these partners have December 31 as their year end so Granite Slab should adopt this date as well.

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