What is the 'material profit and loss statement' rule and does my small LLC have to worry about it?
Reading the section 6038A regs, I keep hitting this 'material profit and loss statement' concept with thresholds like $25 million and $100 million. My LLC does maybe $200k a year. Do these rules apply to me, or is this only for big multinationals? I don't want to ignore something that actually bites small foreign-owned LLCs.
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