100% Independent Document Services. We are not affiliated with any government agency.
What this means

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.

Explore more articles like this one
How can I contact SimpleFilings?
What is an Entity Classification Election?
Who is the election filed with?
You can e-mail us at TaxID@SimpleFilings.com or by using the...
Read more
An Entity Classification Election is a filing submitted to the federal Internal Revenue Service (IRS) to tell them how to tax your business entity. For example, a single owner Limited Liability ...
Read more
Entity Classification Elections are filed with the federal Internal Revenue Service (IRS). In particular, they are filed by mail with either the Cincinnati, Ohio office or the Ogden, Utah office, ...
Read more
View all articles about this service