As an LLC member, you’ll be required to pay into Social Security and Medicare through a self-employment tax, which is paid directly to the IRS. If you have high earnings as an LLC and choose to be taxed as a corporation, you’ll need to fill out an 8832 tax form as a C corporat...
wagering receipts (“AGSWR”) from sports wagering. As of July 1, 2024, the Sports Wagering Act, through Public Act 103-0592, now imposes a progressive tax rate on sports betting, significantly increasing the prior rate. This progressive tax rate raises the privilege tax on a master sports...