•  
  •  
 

Abstract

For farm operations, which historically have been permitted to use the cash method of accounting even though inventories are a material income determining factor, a major concern with limited liability companies (LLCs) is whether the cash method of accounting is available to such entities. At the moment, a substantial question exists about eligibility for cash accounting, particularly if LLC members are viewed as limited partners in the event the LLC is classified as a partnership for federal income tax purposes.

Share

COinS
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.