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LLC tax treatment

LLC can be treated  by the IRS as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”), depending on elections made by the LLC and the number of members.  Single Member LLC. LLC with only one member is treated as an entity disregarded as separate from its owner for income tax purposes (but as a separate entity for purposes of employment tax and certain excise taxes), unless it files Form 8832 and affirmatively elects to be treated as a corporation. Multi Member LLC. LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation.


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