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filing W9, is my LLC a C or an S??

by hello8, Window Shopper

  • Created: August 31, 2012, 11:57 am
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3 comments
I'm trying to fill out a W9 for my LLC and I don't know if my LLC is a C or an S. I'm a single person LLC. How do I find out if the LLC is a C or S? thanks
Tags: Discuss Popular Topics, Filing and Paying Taxes
‹ Tax Help how can i make payment online ??? with this system method of the organization ›

kmurray | Community Moderator | 9/4/2012 - 12:42 pm

Hi, You can find some additional information about LLCs on our website here. As Stephen suggests, reaching out to the IRS to be sure is a great idea. Best of luck!

SeattleCPA | Window Shopper | 9/1/2012 - 9:00 am

By default, a single member (or one owner) LLC is disregarded as a separate
taxpayer... so that means that you're treated as a sole proprietorship for
tax purposes if you're operating an active trade or business (which you
probably are if you're getting W-9s from customers, etc.)

However, it's possible to file a 2553 form with the IRS and receive S
corporation tax treatment... and you should know if you've done this.

And it's also possible to file an 8832 form with the IRS and receive C
corporation tax treatment... again you should know if you've done this.

I would suggest you call the IRS, give them your LLC's EIN, and then ask if
you've elected out of the default treatment.

P.S. to Katie Murray, our moderator: Katie? I've got a considerably more
detailed article that explains the various tax accounting treatments
available for an LLC including the rules for self-employment taxes at my
llcsexplained website. If it's okay to post a link to that article here, let
me know and I'll do that. If not, no worries. I understand.
Stephen L. Nelson, CPA, Author QuickBooks for Dummies
Professional Web Site: http://www.scorporationsexplained.com

kmurray | Community Moderator | 9/4/2012 - 12:38 pm

Show Replied Text…
By default, a single member (or one owner) LLC is disregarded as a separate taxpayer... so that means that you're treated as a sole proprietorship for tax purposes if you're operating an active trade or business (which you probably are if you're getting W-9s from customers, etc.) However, it's possible to file a 2553 form with the IRS and receive S corporation tax treatment... and you should know if you've done this. And it's also possible to file an 8832 form with the IRS and receive C corporation tax treatment... again you should know if you've done this. I would suggest you call the IRS, give them your LLC's EIN, and then ask if you've elected out of the default treatment. P.S. to Katie Murray, our moderator: Katie? I've got a considerably more detailed article that explains the various tax accounting treatments available for an LLC including the rules for self-employment taxes at my llcsexplained website. If it's okay to post a link to that article here, let me know and I'll do that. If not, no worries. I understand.
Hi Stephen, Thanks very much for your inquiry about sharing an article. It's definitely appreciated. Unfortunately, posting links aside from the link in your signature isn't allowed. But if you're in touch with this Community member privately, share away! Again, your consideration of our best practices is appreciated. Thank you for your understanding.