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LLC Tax Choices
One of the reasons many form an LLC is because the LLC gives business owners the most LLC tax choices over any other legal entity when it comes to federal income taxation. This Article summarizes the LLC tax choices you should think about after you form an LLC and then gives links to helpful resources regarding LLC tax choices.
 
 

The Single Member LLC Has Three LLC Tax Choices
A single member LLC has the choice of :
 
 

(i) Being disregarded as a separate entity for tax purposes;

(ii) Being taxed as a C corporation; or

(iii) Being taxed as an S corporation if the LLC and the Member meets the S corporation rules.
 

The Multi-Member LLC Has Three LLC Tax Choices
A multi-member LLC also has three LLC tax choices:
 
 

(i) Taxed under the partnership tax rules (known as a single layer of taxation);

(ii) Taxed as a C corporation; or

(iii) Taxed as an S Corporation if the LLC and its Members meet the S corporation rules.
 
 

SPECIAL REPORT
HOW SHOULD MY LLC BE TAXED?
Tax Classification Choices for the LLC
 
LLC Tax Chocies

This 25 page Special Report, written by LLC specialist, Amyli McDaniel, teaches the LLC owner about the different tax structures available to a limited liability company and provides the pros and cons of each tax structure.

 

  Easy Explanation of Tax Choices

 

  The IRS Check the Box Rule in Plain English

 

  Pros and Cons of Each Choice

 

  Required forms For Each Choice

 

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