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The guidance in Rev-Proc.2002-69: a. Is limited to residents of non-community property states b....

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Accounting

The guidance in Rev-Proc.2002-69:

a. Is limited to residents of non-community property states

b. Permits qualified entities to be treated as either partnership or sole proprietorship for federal tax purposes

c. does not apply to single member LLCs (SMLLCs)

D Applies for federal income tax purposes but not self-employment (SE) tax purposes

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