Archive | LLC Taxation

Understanding LLC Formation

While each state has slight variations to forming an LLC, there are some general principles: Choose a Business Name. There are 3 rules that your LLC name needs to follow: (1) it must be different from an existing LLC in your state; (2) it must indicate that it’s an LLC (such as “LLC” or Limited […]

What Tax ID# Should I Use For an LLC Taxed as a Disregarded Entity?

For all income tax purposes, a single-member LLC classified as a disregarded entity must use the owner’s social security number or EIN if the sole member is a partnership, corporation or trust. This includes all information returns and reporting related to income tax. For example, if a disregarded entity LLC that is owned by an […]