Does an LLC qualify for section 1202 exemption | Qualifications for a Section 1202 Exemption

CPA Deborah Assal answers the question, "Does an LLC qualify for section 1202 exemption?"
An LLC does not qualify for a section 1202 exemption. You need to be a domestic C Corporation with gross assets of less than 50 million dollars at original issue. If you're a business that was originally set up as an LLC and you have reason to believe you're going to exit, but not for 5 years, you can convert to a C Corp.