Solved: Cloud rider llc has about 30 llc members enyfs inc 25 owner, Accounting Basics

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Cloud rider llc has about 30 llc members enyfs inc 25 owner

Question - Cloud Rider LLC has about 30 LLC members. Enyfs, Inc. (25% owner) and Nest, Inc. (21% owner) both have June 30 tax year ends. Brom, Inc.; Titus, Inc.; and Gerrera, Inc. each own 4% (12% total) and have September 31 taxable year ends. The other members (42% total) each own interests of 4% or less and use the calendar year (December 31). What is the tax year the partnership must use and why?

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Accounting Basics: Cloud rider llc has about 30 llc members enyfs inc 25 owner

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Accounting Basics: Cloud rider llc has about 30 llc members enyfs inc 25 owner

Reference No:- TGS02756201

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