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How to tax single-member LLC as an S-corporation

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    How to tax single-member LLC as an S-corporation

    Looking for information regarding how to file tax returns for a single-member LLC as an S-corporation. It seems there is a certain IRS form that is filled-out to get things started but I don't recall the form number. Has anyone been through this process and if so, I welcome any thoughts, links, webpages, etc. to begin the education process.

    #2
    Form 8832.

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      #3
      Form 2553

      Not that I am in the mood to tangle with a Lion, but I've had success in filing only form 2553. I think the IRS agents in Ogden have been trained well enough since this requirement change a few years ago (form 8832, then form 2553 was the prior method).

      See Publication 3402, specifically, here is what I am referring to:

      "LLCs Classified as Corporations

      An LLC with either a single member or more than one member can elect to be classified as a corporation rather than be classified as a partnership or disregarded entity under the default rules discussed earlier. File Form 8832, Entity Classification Election, to elect classification as a C corporation. File Form 2553, Election by a Small Business Corporation, to elect classification as an S corporation. LLCs electing classification as an S corporation are not required to file Form 8832 to elect classification as a corporation before filing Form 2553. By filing Form 2553, an LLC is deemed to have elected classification as a corporation in addition to the S corporation classification."
      Circular 230 Disclosure:

      Don't even think about using the information in this message!

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        #4
        Dave is so right. That's what I was thinking, only one form. But, a senior moment and I typed the WRONG form, the one you do NOT have to file as already an LLC, an entity organized under state law. Totally agree with Dave that it's 2553. This Lion is very tame.

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