If I file with the Internal Revenue Service as a LLC but ask to be taxed as a corportation, can I file with my state as a corporation?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I file with the Internal Revenue Service as a LLC but ask to be taxed as a corportation, can I file with my state as a corporation?
Asked on September 9, 2014 under Business Law, Tennessee
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
You have the option, if you are an LLC, to be taxed as either a corporation or a partnership, but that option must be exercised consistently across state and federal filings. If you are an LLC, you cannot file "as" a corporation--you must properly identify your business structure. You can just file as an LLC seeking to be taxed a corporation.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.