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Single Member LLC question

Forum|Forum|3 years ago
November 16, 2022
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As a single member LLC, will getting an EIN change my status as a disregarded entity?

Best answer by drc845443

Hello there,

As a single member LLC the default treatment by the IRS is as a disregarded entity, even if you have an EIN number, unless you elect for the LLC to be taxed as either a C corporation or an S- corporation. You can elect for the LLC to be taxed differently by timely filing Form 8832.

Here is a resource that you may find informative about your choices:

https://turbotax.intuit.com/tax-tips/small-business-taxes/can-i-convert-my-llc-to-an-s-corp-when-filing-my-tax-return/L7MHL5wVo

D

drc845443Answer

Hello there,

As a single member LLC the default treatment by the IRS is as a disregarded entity, even if you have an EIN number, unless you elect for the LLC to be taxed as either a C corporation or an S- corporation. You can elect for the LLC to be taxed differently by timely filing Form 8832.

Here is a resource that you may find informative about your choices:

https://turbotax.intuit.com/tax-tips/small-business-taxes/can-i-convert-my-llc-to-an-s-corp-when-filing-my-tax-return/L7MHL5wVo

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