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Level 1

I am a single member in my business. i have filled out a form 2553 and it was accepted. what to do with W9?

I am a single member in my business. i have filled out a form 2553 and it was accepted. (election by a small business corporation) when i fill out a w9 form, do i check off sole proprietor or s corporation? and do i use my SSN or EIN? am i disregarded? I just want crystal clear explanations. i want to understand. thank you

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Level 1

I am a single member in my business. i have filled out a form 2553 and it was accepted. what to do with W9?

As a single member LLC, you would normally use your social security number. Since you've formed a S-corp with form 2553, you'll now enter your s-corporation name, which is your LLC name (as used on form 2553), on line 1 of the W-9. 

In box 3 of the W-9, you should select the 6th checkbox for Limited Liability Company and enter "S" for S-corporation, in the space to the right.  Now that your business name is an s-corp, it is not a disregarded entity by the IRS, it's a s-corporation. 

To see this information at the IRS see page 3 of the instructions here: https://www.irs.gov/pub/irs-pdf/fw9.pdf

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Level 1

I am a single member in my business. i have filled out a form 2553 and it was accepted. what to do with W9?

As a single member LLC, you would normally use your social security number. Since you've formed a S-corp with form 2553, you'll now enter your s-corporation name, which is your LLC name (as used on form 2553), on line 1 of the W-9. 

In box 3 of the W-9, you should select the 6th checkbox for Limited Liability Company and enter "S" for S-corporation, in the space to the right.  Now that your business name is an s-corp, it is not a disregarded entity by the IRS, it's a s-corporation. 

To see this information at the IRS see page 3 of the instructions here: https://www.irs.gov/pub/irs-pdf/fw9.pdf

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Level 1

I am a single member in my business. i have filled out a form 2553 and it was accepted. what to do with W9?

Thank you very much. It makes more sense now, I really appreciate it.
i will probably have to amend my taxes. i did the self employment.

I should have gone to a professional, but i am just stubborn and like to be independent...