Llc Operating Agreement Oklahoma With S Corp Election
Description
How to fill out Oklahoma Limited Liability Company LLC Operating Agreement?
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FAQ
The S corporation is the only business tax status that lets you save on Social Security and Medicare taxes while avoiding double taxation. An LLC taxed as S corp offers benefits of a corporation while also providing flexibility on income treatment.
If you want your LLC to be taxed as an S corporation, you need to file IRS Form 2553, Election by a Small Business Corporation. If you file Form 2553, you do not need to file Form 8832, Entity Classification Election, as you would for a C corporation. You may use online tax filing, or can file by fax or mail.
For federal tax purposes, you can simply make an election for the LLC to be taxed as an S-Corporation. All you need to do is fill out a form and send it to the IRS. Once the LLC is classified for federal tax purposes as a Corporation, it can file Form 2553 to be taxed as an S-Corporation.
And, once it has elected to be taxed as a corporation, an LLC can file a Form 2553, Election by a Small Business Corporation, to elect tax treatment as an S corporation.
You can start an S corporation (S corp) in Oklahoma by forming a limited liability company (LLC) or a corporation, and then electing S corp status from the IRS when you apply for your EIN....Step 1: Name Your LLC.Step 2: Choose Your Oklahoma Registered Agent.Step 3: File the Oklahoma LLC Articles of Organization.More items...?
