LLC Taxed as Corp or S Corp

[Tatiana Conta]

What is the main difference between having your LLC taxed as a Corporation or an S Corp ?

[Christopher Smith]

If your single member LLC is disregarded, then the activities are taxed as if they were held by you directly in your name.

If your LLC is taxed as a C Corporation, then its taxed under Subchapter C of Title 26 (Internal Revenue Code) of the United States Code.

If your LLC is taxed as an S Corporation, then its taxed under Subchapter S of Title 26 of the United States Code.

If you LLC has more than 1 member and has not elected to be taxed as a C or S corporation, then its taxed under Subchapter K of Title 26 of the United States Code.