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Old 03-01-2013, 03:40 AM
Join Date: Dec 2012
Posts: 28
Income Tax Preparation Requirements for an LLC

Hello all,

A Limited Liability Company, or LLC, is a hybrid business entity created by state law. The Internal Revenue Service treats most LLCs as a sole proprietorship or partnership by default, which means the company's income or losses are reported individually by the owners, called members, of the business. But the company can also elect to be taxed as a separate entity C corporation. Regardless of how it is taxed on its income, an LLC has the same employment tax responsibilities as any other business.

Thanks a lot
Gregorys simp

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