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1. Limited Liability Company (LLC) | Internal Revenue Service
Link: https://www.irs.gov/businesses/small-businesses-self-employed/limited-liability-company-llc
Description: WebNov 13, 2023 · Review information about a Limited Liability Company (LLC) and the federal tax classification process. A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, you should check with your state if you are interested in starting a Limited Liability Company.
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2. LLC Filing as a Corporation or Partnership | Internal Revenue …
Link: https://www.irs.gov/businesses/small-businesses-self-employed/llc-filing-as-a-corporation-or-partnership
Description: WebOct 11, 2023 · If the LLC is a corporation, normal corporate tax rules will apply to the LLC and it should file a Form 1120, U.S. Corporation Income Tax Return. The 1120 is the C corporation income tax return, and there are no flow-through items to a 1040 or 1040-SR from a C corporation return.
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3. Filing A Tax Return For Your LLC | H&R Block
Link: https://www.hrblock.com/tax-center/filing/personal-tax-planning/filing-a-tax-return-for-your-llc/
Description: WebBecause LLCs are registered with the states they do not require federal returns. So, unless the LLC chooses to be treated as a corporation: A multimember LLCs should file Form 1065. Your state might require a separate LLC tax return, please check with your state tax office to …
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4. LLC Tax Filing Rules - TurboTax Tax Tips & Videos
Link: https://turbotax.intuit.com/tax-tips/small-business-taxes/llc-tax-filing-rules/L39E29kPR
Description: WebNov 29, 2023 · LLC Tax Filing Rules. Written by a TurboTax Expert • Reviewed by a TurboTax CPA Updated for Tax Year 2023 • November 29, 2023 12:24 PM. OVERVIEW. If you operate your business using a limited liability company (LLC), then you have more flexibility in choosing how the IRS taxes your business earnings. Your choice will directly … Reviews: 153.4K
Reviews: 153.4K
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5. How LLCs Pay Taxes - NerdWallet
Link: https://www.nerdwallet.com/article/small-business/small-business-llc-taxes
Description: WebMar 8, 2024 · How Do Limited Liability Companies (LLCs) Pay Taxes? Learn which types of taxes your LLC is responsible for paying, as well as how you can reduce your tax bill. By Priyanka Prakash. and...
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6. Limited Liability Company Taxes - TurboTax Tax Tips & Videos
Link: https://turbotax.intuit.com/tax-tips/small-business-taxes/limited-liability-company-taxes/L5TDDlstC
Description: WebNov 29, 2023 · As such, the LLC should file Form 1065: Partnership Return of Income for tax purposes. An LLC that is taxed as a partnership pays no federal income tax itself. Instead, it passes its taxable profits and deductible losses through to its members. Reviews: 153.4K
Reviews: 153.4K
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7. Publication 3402 (03/2020), Taxation of Limited Liability Companies
Link: https://www.irs.gov/publications/p3402
Description: WebMar 24, 2020 · If the LLC is classified as a corporation, it must file a corporation income tax return. If it is a C corporation, it is taxed on its taxable income and distributions to the members are includible in the members' gross income to the extent of the corporation's earnings and profits (double taxation).
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8. LLC Taxes: How Do Limited Liability Companies Pay Taxes?
Link: https://www.usnews.com/360-reviews/business/llc-services/llc-taxes
Description: WebApr 17, 2024 · A limited liability company (LLC) is a pass-through entity, meaning it doesn't pay income taxes directly to the IRS. Instead, an LLC's sole owner or members are responsible for taxes on...
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9. The Complete Guide to LLC Taxes - Bench Accounting
Link: https://www.bench.co/blog/tax-tips/llc-taxes
Description: WebDecember 15, 2021. This article is Tax Professional approved. An LLC (or "limited liability company") is a business entity that behaves like a corporation at the state level but can avoid paying corporate taxes. As an LLC, your company can pay income tax like a partnership or sole proprietorship in the eyes of the Internal Revenue Service.
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10. How are LLCs taxed? LLC tax benefits and ways to reduce taxes
Link: https://tax.thomsonreuters.com/blog/how-are-llcs-taxed-llc-tax-benefits-and-tips-to-reduce-taxes/
Description: WebFeb 8, 2024 · How are LLCs taxed? LLCs are considered “pass-through entities,” which means the LLC itself does not pay federal income taxes on business income. Instead, income “passes through” to individual members of the LLC, who pay federal income tax earned from the LLC via their own individual tax returns.
