qbteachmt
Level 15
11-20-2020
10:43 AM
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I don't see where which "stock" is being held, was ever addressed.
An ESOP is like a charitable trust. The ESOP would "own" some or all of that Corporation. The ESOP trust would not have partners; it has beneficiaries.
"Not sure if IRS will allow a LLC (except Single Member LLC) being created without any EIN and tax return filing???"
There should be annual 5500 filings.
It's time to seek professional guidance on this.
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