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How is an LLC taxed?


Entity Classification Election Filing Service


The Limited Liability Company (LLC) entity type is flexible on how it can pay taxes to the federal government. It can pay taxes like a Sole Proprietorship, a Partnership, a Corporation, or even like an S-Corporation. With Sole Proprietorships, Partnerships, and S-Corporations, business income is taxes as the personal income of the owners. With a Corporation, the Corporation itself pays taxes on its income, and additionally, the owners are taxed on income they take from the Corporation. The Entity Classification Election is the filing an LLC makes to tell the IRS how it wishes to be taxed.



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How is an LLC taxed? The Limited Liability Company (LLC) entity type is flexible on how it can pay taxes to the federal government. It can pay taxes like a Sole Proprietorship, a Partnership, a Corporation, or even like ...
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Can a filing be expedited? No, it is the same turnaround time for everyone. We are usually able to submit your election to the IRS within one business day of receiving all required signatures, and the IRS should mail you a ...
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Why use SimpleFilings for the filing? We are experienced at the document preparation and filing process for Entity Classification Elections. We turn what can be an otherwise complicated and confusing filing into a smooth and simple ...
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Does a filing expire? Once an Entity Classification Election is accepted by the IRS, it stays in effect until it is changed, terminated, or revoked...
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