LLC question

[jojo0808]

Jurisdiction

California

Hello! My friend and I are starting an LLC for renting props and set dressing to the film industry.
If my friend does no work in the LLC and does not take any money from the LLC as income, is she still issued a K1 at the end of the year?
My understanding is that if I'm the only one taking money then I'm the only one getting a K1 and getting taxed.
How can my friend have any tax liability if she doesn't take any money.
LLCs sound harder than corporations when it comes to taxes!

Thanks in advance

 

[adjusterjack]

LLCs sound harder than corporations when it comes to taxes!

Which is why you hire a tax pro to set this up properly as there are a lot more forms involved than just the K-1 (which can be issued with Zeros if appropriate).