LLC Tax Classification and Member Taxation
Free CPA REG (Taxation & Regulation) lesson in Federal Taxation of Entities. 14 min read, ~2,098 words.
Single-member LLC defaults to a disregarded entity. Multi-member LLC defaults to a partnership (Form 1065). Either can elect corporate status. Check-the-box election is made on Form 8832. To become an S corp, file Form 2553. The election is irrevocable for 60 months from the effective date. A single-member LLC owned...
Read the full lesson, free →
Worked examples, audio narration, and practice. No signup to read.
What this lesson covers
- Content
- Example 1
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- V.E1
Browse all free CPA REG lessons or jump into free CPA REG practice questions.