Louisiana Llc Operating Agreement With S Corp Election
Description limited liability company
How to fill out Louisiana Llc Operating Agreement With S Corp Election?
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FAQ
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.
Starting a Louisiana LLC and electing S corp tax status is easy....Step 1: Name Your LLC.Step 2: Choose Your Louisiana Registered Agent.Step 3: File the Louisiana LLC Articles of Organization.Step 4: Create an LLC Operating Agreement.Step 5: Get an EIN and Complete Form 2553 on the IRS Website.
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.
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.
Technically an S Corporation is a pass-through entity but Louisiana income tax law does not recognize Subchapter S corporation status. An S corporation is required to file income tax in the same manner as a C corporation.