Form with which a corporation may resolve to alter its corporate status top that of a subchapter (S) corporation.
S Corp Status For Llc In Sacramento
State:
Multi-State
County:
Sacramento
Control #:
US-0046-CR
Format:
Word;
Rich Text
Instant download
Description
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FAQ
LLC treated as a corporation Business type If you want your LLC to be taxed as a corporation, you must file an election with the IRS. Use Entity Classification Election (Federal Form 8832) .
Limited Liability Companies Treated as S Corporations The LLC will also be treated as an S corporation for the state and must file Form 100S (California S Corporation Franchise or Income Tax Return). California and federal laws treat these companies as corporations subject to California corporation tax law.
In most states, licensed professionals (architects, accountants, doctors, lawyers, therapists, etc.) offering professional services cannot form a “regular” California LLC. Instead, they must form a Professional LLC (PLLC).
The largest drawback of operating a single-member LLC in California is the hefty $800 franchise tax, and additional LLC fees on high income brackets. ing to Business Initiative, 10.34% of businesses in the United States are sole proprietorships.