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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118236
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I just noticed that the W-9 form I fill out has a

Customer Question

For taxes, I just noticed that the W-9 form I fill out has a distinction for filing listed as:
() individual/sole proprietor () c corp () s corp () partnership () trust/estate
() limiited liability company. Enter tax classification (c=corp, s=s, p=p) I entered c
This may not make sense unless you actually search for the form online and read it.
But, my questions is, from a business /tax point, if I am the sole owner, principal and proprietor can't the company be a sole proprietorship but also a limited liability company.
My brain might now be working today or this is just odd.
I just need to know that by selecting the LLC option and entering C, that I would still be able to properly report business income on my business tax returns along with the personal returns.
Submitted: 1 year ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

A sole proprietorship is an unincorporated business entity. A LLC is an incorporated business entity that is treated for tax purposes as a partnership. Even though a sole owner LLC is like a sole proprietorship for tax purposes in that the taxes flow to your personal return, it is not the same classification as a sole proprietorship if it is an LLC because the LLC still has to file a tax return separately and issue you a K-1 form (like a 1099) for the profits/losses of the LLC which you claim on your income tax return. If you are a sole owner LLC and choose to be taxed as a corporation, you may do so, which is what selecting "C" does, meaning that instead of the LLC issuing a K-1 form, your LLC pays taxes like a corporation on the LLC tax return. If you select "p" then you issue a K-1 to you from the LLC and claim it on your personal tax return.