If the LLC is owned by another company, the LLC is taxed like a branch/division of the parent companyĮlective status: Most Single-Member LLCs can alternatively be taxed as an S-Corporation or C-Corporation.If the LLC is owned by a non-US resident, the LLC is taxed the same way as the individual who is a non-US resident.If the LLC is owned by a US citizen or a US resident, the LLC is taxed like a Sole Proprietorship.This means The IRS looks at the owner to determine the LLC’s default tax status.Ī disregarded entity has “subtypes”.
(check out Northwest vs LegalZoom) Single-Member LLC taxesĭefault status: Single-Member LLCs are what’s called a Disregarded Entity. Northwest ($39 + state fee) or LegalZoom ($149 + state fee) Need to save time? Hire a company to form your LLC:
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