I have an Single member LLC ( tax as sole proprietor). if i want to add another member to LLC, which of following is a right way to do?
1- Add new member to LLC and amend article of organization and apply a new EIN for partnership LLC. two business taxes needed to be done at the end of year. one for short year for sole proprietor and one for short year of partnership.
2- or elect LLC tax as an SCORP and add a member to SCORP and amend article of organization. one business tax needed to be done at the end of year.
thank you
