My team currently has 9 people in it and we design and build web applications. As the team manager(lead) my current duties include prioritizing projects, maintaining level of effort hours for projects deadlines and client relations. I have also done budget management and workload balancing and scheduling.
1 The LLC may apply for recognition of exemption under Internal Revenue Code 501(c)(3) by filing Form 1023. 2  See IRS Website. 3  The LLC may be a disregarded entity for federal income tax purposes and take on the tax characteristics of its sole member, a 501(c)(3) organization.
If you fill out a Form 8832 and elect to be taxed as a corporation, your business will be taxed as a separate entity from you and your partners. As a result, the business would be responsible for reporting all income and deductions on Form 1120 each year. This is one of the lesser-used LLC tax filing options.