Mr. Pierce: Do you have a written LLC agreement? Your agreement should shed light on your questions. Whether it does or not, you should have an attorney review your situation to make sure (1) whether or not you are liable for taxes; (2) whether or not you are entitled to income that the other owners have not been paying to you; and (3) whether or not you should get out. It seems to me that you should not pay taxes on money you do not receive. You may have paid taxes on their income and may be entitled to get that back.
Good Luck!
Answered on Feb 06th, 2013 at 4:04 PM