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Updated about 12 years ago,
Are you now a corp when you form an LLC and elect to be taxed as a s-corp?
Scenario: I am a wholesaler, and say I formed an LLC, "ABC Company, LLC". Then I elect for my LLC to be taxed as an S-corp. I am wondering if the company is still an LLC or is now a corp? Is the election just for tax return purposes, but you are still doing business as an LLC and not a corp. Because as an LLC you are member, and if you are a corp, then you have a title. Does that change? The reason I am asking is because when you need to sign legal documents on the signature block, what do you designate yourself as?