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nick991
New Member

I want to change my LLC to an S Corporation for tax purposes. Do I need a new EIN? What are the IRS tax forms that I need to fill out?

 
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M-MTax
Level 12

I want to change my LLC to an S Corporation for tax purposes. Do I need a new EIN? What are the IRS tax forms that I need to fill out?

If your LLC has an EIN now you don't need a new one if you elect S corp status for tax purposes.

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3 Replies
M-MTax
Level 12

I want to change my LLC to an S Corporation for tax purposes. Do I need a new EIN? What are the IRS tax forms that I need to fill out?

If your LLC has an EIN now you don't need a new one if you elect S corp status for tax purposes.

I want to change my LLC to an S Corporation for tax purposes. Do I need a new EIN? What are the IRS tax forms that I need to fill out?

Anonymous
Not applicable

I want to change my LLC to an S Corporation for tax purposes. Do I need a new EIN? What are the IRS tax forms that I need to fill out?

do you know the requirements of an S-Corp - such as taking a salary, filing payroll tax returns and timely paying in the payroll taxes that must be withheld?  how about the possibility you are now required to carry workmen's compensation insurance.   if not, you should discuss your situation with a tax pro before making the election. this way you should be able to avoid future headaches and possible substantial additional taxes penalties and interest should you mess up. 

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