P'Ships, does it matter which partner signs?

AZ-Tax

Senior Member

Join Date: Feb 2008

Posts: 2604
#1

P'Ships, does it matter which partner signs?

04-11-2011, 09:50 AM

Got a partnership (LLC) with 3 members: Member 1 - 25%, Memer 2 - 25% & Member 3 - 50%. Does it matter which one signs?
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BOB W

Senior Member

Join Date: Jun 2005

Posts: 4061
#2

04-11-2011, 10:32 AM

Originally posted by AZ-Tax View Post

Got a partnership (LLC) with 3 members: Member 1 - 25%, Memer 2 - 25% & Member 3 - 50%. Does it matter which one signs?

Generally a TMP is elected on the return. That is the partner who signs.

TMP = Tax Matters Partner.

TMP can be changed each year, so whoever wants to be the TMP is who signs.

This post is for discussion purposes only and should be verified with other sources before actual use.

Many times I post additional info on the post, Click on "message board" for updated content.
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