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I am applying EIN LLC I am the only member of the LLC I want

Customer Question
I am applying for an...
I am applying for an EIN for my LLC
I am the only member of the LLC
I want to be taxed as an S corporation
What should be my first step?
Submitted: 1 year ago.Category: Tax
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Answered in 5 minutes by:
3/23/2016
Tax Professional: Tax.appeal.168, Tax Accountant replied 1 year ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 3,869
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
Verified

In order for the LLC to to be taxed as an S-Corp, you will have to make the election by completing the Form 2553.

Link to Form 2553/instructions:

https://www.irs.gov/pub/irs-pdf/f2553.pdf

https://www.irs.gov/instructions/i2553/ch01.html

You might want to read the blog at the following link as well;

http://www.bizfilings.com/toolkit/news/tax-info/llc-plus-scorp-equal-best-of-both.aspx

Let me know if I can be of further assistance to you regarding this matter. If all is clear, please be so kind as to positively rate my response 3 or more stars so that I can receive credit for assisting you today.

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Tax.appeal.168
Tax.appeal.168, Tax Accountant
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