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10 Day Stop Work Order Business Entity Corporation or LLC California Form

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10 Day Stop Work Order Business Entity Corporation or LLC California Form

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as an LLC you can have the ability to elect how you want to be taxed and you can be taxed in three primary ways number one as a sole proprietor or partnership depending on the number of owners you have number two an S corporation and number three AC Corporation if you have no idea how your LLC is currently being taxed then you're probably being taxed as a sole proprietor or a partnership depending on if you have Partners or not in your business these entities pay federal income tax state income tax and self-employment taxes which you'll find out that some of the other entities here do not have to pay without being some type of Corporation you are going to pay self-employment tax since you will be considered self-employed and S corporations specifically are typically favored amongst business owners because number one they don't have to pay any self-employment tax and number two they are not subject to double taxation like C corporations

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