old jack

[gman]

You helped me with the LLC question, and I needed a little more info. Lets assume they
they are a c corporation. The corp return would be filed and the members would not
pay the tax, the corp files and pays any tax due...
Are the members listed anywhere on the return. 5 member LLC

The ss-4 they filed has the partnership box checked, so it appears they are a partnership, but they
have form 205 (certificat of formation stamped with "filed in the secretary of state corporations section
on it.) Maybe if I contacted the attorney, I could get some clarification....

[thomtax]

I'm not Old Jack

But why not just check with the government office. In Arkansas, at the Secretary of State's office, you can go online and check the status of a corporation, etc. Then you will know how they are filed with the state. I'm not positive but I believe the same office handles LLCs and Corps., so it could have the same stamp and still be an LLC since it does not say filed as a corp., just that it was filed in the Corp. office.

If your state is not online, a phone call will probably do the trick.

LT

[OldJack]

As Thomtax pointed out, an LLC is usually setup by the same state office as a corporation is setup. The fact that it is stamped "filed by.." only means that it was filed in that state office and does not make it a corporation.

As to the SS4 application... that designation as a partnership is not binding. What determines for an LLC is the elections made with the IRS, if any, and the first income tax return filed.

As to your question on listing members if filing a C-corp tax return. Yes, depending upon salary taken, they may be listed on the 1120, page 2, Sch-E and also they would be listed as an attachment schedule as required by question 5 on the 1120, page 3, Sch-K.

An LLC cannot be a C-corp unless it files an election with the IRS.