Tenacap for LLCs
Tenacap is built C-corp-first, but it supports LLCs honestly: the app switches its vocabulary and hides the surfaces that only make sense for a corporation, rather than showing you empty or misleading C-corp tables. Here's exactly what changes when your company's entity type is LLC.
You choose the entity type — C-corp or LLC — when you create the company (or it comes in on import). Everything below follows automatically from that choice; the underlying cap-table model is the same, so imports, ownership math, scenarios, and the stakeholder portal all work identically.
Units, not shares
An LLC issues membership units of a unit class, not shares of a share class. Tenacap uses that vocabulary throughout the cap table for an LLC — column headers, forms, and totals all read “units” — so what you see matches your operating agreement.
What’s hidden for LLCs
The following are C-corporation equity-compensation and tax surfaces. LLCs grant profits interests rather than statutory stock options, so Tenacap suppresses these rather than mislabel them:
- Option plans, ISO/NSO grants, and RSUs.
- 409A valuations, 83(b) elections, Rule 701, Form 3921, the ISO $100k limit, AMT, and QSBS (§1202) — the whole Compliance page shows a “not applicable” note for an LLC.
- ASC 718 stock-compensation accounting.
Delaware: the flat $300 tax
A Delaware LLC does not pay the corporate franchise tax and files no annual report. It owes a flat $300 annual tax due June 1. The DE filing page detects the entity type and shows this flat amount, a link to the state’s LP/LLC/GP tax portal, and an optional June-1 reminder — not the two-method C-corp calculator. See Delaware franchise tax for the corp side.
On the roadmap
Member capital accounts and K-1 reporting for an operating LLC are on the roadmap (Tenacap already produces LP K-1s on the funds side). Until then, an LLC gets an accurate units-based cap table and the correct Delaware obligation.