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token1
Returning Member

Filing for Holding LLC with subsidiary LLC using TT

I have a multimember WY parent LLC 100% owns subsidiary TX single member LLC.

The EIN of TX LLC now its tied to a person only SSN, it cannot be another EIN anymore, which is the person responsible for the parent LLC.

If the TX LLC gets a 1099 the person will have to include that income on their personal taxes separate from K1, so IRS match the EIN with SSN. and what would happen with the income reported at the 1065?

Also how to file the TX LLC not as partnership with the state?

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1 Reply
RobertB4444
Employee Tax Expert

Filing for Holding LLC with subsidiary LLC using TT

I need you to clarify something for me.

 

The EIN for an LLC can't be a social security number.  If you have created an LLC you have generated an EIN separate from a social security number even if you file as a sole-proprietorship.  

 

So the Texas LLC should either be filing a tax return or be a part of the tax return for the parent corporation in Wyoming.  

 

@token1 

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