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Updated about 1 year ago on . Most recent reply presented by

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Doug Frisch
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Requirements for having an LLC taxed as a C Corp?

Doug Frisch
Posted

Hi,

I've set up an LLC in Wyoming and I'm wondering what needs to be done in order to have it taxed as a C Corp.

Any help would be greatly appreciated.

Thank you,

Doug

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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
Replied

A single member LLC, by default, is a disregarded entity. You would need to file paperwork for it to be taxed as a Corporation.

A multi-member LLC, by default, is a partnership. You would need to file paperwork for it to be taxed as a corporation.

You should have a conversation with an accountant prior to making the election as it may be difficult to undo.

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Basit Siddiqi CPA
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