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Generally, businesses need a new EIN when their ownership or structure has changed.
Corporation or Partnership Enter the name of the LLC as recorded in the tax documents. ... Check the ?Limited Liability Company? box. On the tax classification line, write a ?P? for partnership, ?S? for S Corporation, or ?C? for the corporation. Enter the business address, city, state, and ZIP code.
Converting an S Corp to an LLC can be a beneficial and profitable move for many businesses. It offers the flexibility to operate as either a sole proprietorship, partnership, or corporation. Additionally, it allows for greater protection of personal assets and more efficient tax planning.
To elect for S-Corp treatment, file Form 2553. You can make this election at the same time you file your taxes by filing Form 1120S, attaching Form 2533 and submitting along with your personal tax return.
How to Convert Your LLC Into an S Corp in California Draft a set of corporate bylaws (you can use the bylaws from your original LLC Operating Agreement if they're applicable). Elect corporate officers and appoint corporate directors. Issue stock certificates. Conduct your initial board meeting.