Does a multi member llc have to pay or file quarterly taxes if they have no employees(members provide the service), and what forms would be used throughout the year?

[carlosdflor2007]

My wife is co-owner of a business, which is a multi member LLC(her and someone else). They don't have any employees under their payroll since they are the ones that provide the service themselves. That's where I'm wondering about them filing or paying quarterly taxes. They do not receive a percentage of the total revenue made by both, but their income is based on the services they each provide to a customer. The only thing they go 50/50 on is their expenses, such as rent, supplies, bills, etc. I'm wondering what forms they have to file during the year or annually. 

[Critter]

If you have a 2+ members in your LLC, then the business defaults to be taxed as a Partnership and needs to file form 1065, which you can do with TurboTax Business. You'll give each member a schedule K-1 (1065), which you'll need to enter with your personal return, this year in TurboTax Premier.

[Vanessa · Accepted solution]

No, the LLC does not have to file or pay quarterly taxes, but your wife as a self-employed individual will need to file an pay quarterly taxes. An LLC has no tax liability (other than employee taxes which you state there are none).  All income flows through to each partner and is taxed at their individual rates.  One of the easiest ways to do this is to go to pay.gov, create an account and then make a payment based on the income she received during that quarter.  

[xoch-cal-96]

TurboTax, I have a similar situation. My fiancee and are the owners of our company, which is a multi member LLC. We do not have any employees, we provide the service ourselves. I am wondering how the quarter filing work for us if we did not take any member draws this year since we have only been open for about 6 months. We have day jobs so we did not need the money instead we want to use it to grow. Do we individually still have to pay for the business tax even though we did not take any profit?

[Critter]

I highly recommend you seek local professional assistance to get educated on how a partnership works and how to set up the books.  The 1065 is a pass thru entity and even though you did not remove money from the partnership you did have profits and that must be passed thru to the partners on a K-1 from the form 1065 ... what you did with the profit has no bearing on the situation.  

[bigoldcloser]

From the Pay.gov website FAQ: Can I pay my income tax on Pay.gov?

No. Go to the IRS online payments web site.

[Ada80]

What if husband and wife are the only two members of the LLC ? Do they have to file quarterly taxes for their income and or the LLC ?