ahay68979 - 11/29/2016 18:48 We're in middle of starting a LLC. It will have my parents and my kids on it. Parents with 51% and kids 49%. With death of parents it goes 100% to my kids, hopefully they are not minors by then. Here's where questions start. Lawyer says tax's will show up on my tax returns for my kids. But why? LLC should pay the tax's not me paying the tax's. This is kind of like a trust fund for my kids, so we don't want my name on it in case something goes south with farming after the 2015 cattle feeding gut wrenched year. So will it show up as income for my kids since they are minors? I know we will pay tax's out which is fine but I am not involved with this, my parents are. We want to run some cattle under it and another enterprise we are working on gaining. So where do we sit? I had questions answered in beginning now she is changing how it works in the middle and dad is lost on where its headed and how it works now. Also worried about dissolving it when parents are gone. Will be no land in it, just some cattle, machinery and cash. Any help will be appreciated.