Do Members get tax advantages for being in a Company partnership?
Since the tax code changes so often, you are urged to discuss specific advantages with an accountant. As an LLC, the entity is not a corporation, and profit, if any, is not subject to the double taxation that would befall a member if this were a C class business corporation. The company [LLC] is a pass through entity, meaning that the company itself is not subject to taxation. In this regard, Members are taxed as if the Company were a Partnership.
