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What is double taxation?


Entity Classification Election Filing Service


Double taxation refers to the process by which a typical for-profit Corporation (or an LLC electing to be taxed like a Corporation) pays federal corporate income tax. Because in addition to the business paying income tax, its owners also pay federal income tax on the income they take from the Corporation (or from the LLC electing to be taxed like a Corporation).



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What is an Entity Classification Election? 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 ...
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How long does the Entity Classification Election filing take? After providing all required signatures, we will submit your election to the IRS often within one same business day, and send you an e-mail confirming that we have done so. Then within 60 days, the ...
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Are there any default elections? If a Limited Liability Company (LLC) does not file an Entity Classification Election, the Internal Revenue Service (IRS) will assume that it wants to be taxed it like a Sole Proprietorship if it has ...
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