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Revoking a Subchapter S ElectionInternal Revenue Service Form

Revoking a Subchapter S ElectionInternal Revenue Service Form

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Instructions and help about Revoking A Subchapter S ElectionInternal Revenue Service

hey this is attorney elizabeth potts weinstein and today we're going to be talking about how to make your llc be taxed as an s corporation so if you have a llc or limited liability company for your business the default is that it is taxed just as if you were a sole proprietorship if there's only one owner or it's taxed as a partnership if there are multiple owners but you may want it to be taxed as an s corporation instead for the various tax benefits that exist for us corporations now before you make the election with the irs to turn your llc into something that is taxed like an s corporation you have to have your llc it has to already be formed and you have to already have gotten your ein from the irs i have videos about both those things and you can see the links for that below the deadline to elect to have your llc be taxed as an s corporation is two months and 15 days after the tax year starts where you want it to count now that calculation if you just form

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