I am a single member LLC (incorporated August last year, biz activity to being mid Feb this year), and was about to apply EIN number to open a biz bank account. I was stumped when applying online by the question as to how I wanted to be taxed: If I want to be a disregarded entity, or taxed as a corporation. I have newly registered the LLC in the state of NY, art gallery. (Am a non-resident, German citizen Swiss resident applying E2 visa so I may be physically in the States to personally oversee the business)- Currently I have no income in the US. Based on prior business performance, if I base my desciion on a net profit (after expenses deductions) of USD 120 000, which is my best option? Any net profit is always re-invested in the business (exhibiting at art fairs cost anywhere between USD 10 - 30 000 to do ). I do not want to be taxed on monies, that do NOT land in my pocket, but are re-invested in the company. If you can give me some guidance, I would greatly appreciate it.