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You can elect an S-corporation status for your limited liability company (LLC) so long as it meets the Internal Revenue Service’s (IRS) requirements. Making this change is for federal tax purposes and can provide significant savings. It doesn’t create a new business entity or change the legal structure of your LLC. You’re still an LLC for statutory purposes but are an S-corporation for tax purposes.
Changing your tax classification can impact other areas of your business beyond finances. So it’s best to seek out legal advice before making any changes.
But the key to remember is: You’re not changing your company’s legal structure. You’re changing how it’s taxed.
💡 Best State to Form an LLC : How to Choose: [ Ссылка ]
💡 How to Form an LLC in Texas: A Step-by-Step Instructions: [ Ссылка ]
💡 How-to guides for starting your own company: [ Ссылка ]-
If you want to learn more, we have how - to guides for starting and running your own company on our website ww.simplifyLLC.com.
SimplifyLLC is an independent publication that provides free guides for small business owners.
If you’re looking for business ideas and do-it-yourself guides on forming and operating an LLC, then SimplifyLLC is your go-to resource for simple, legal jargon-free information.
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