Holding company LLC is formed in WY (let's call LLC1) as a single member LLC (SMLLC) and disregarded entity. An operating LLC (let's call LLC2) is formed in Nevada as a SMLLC and disregarded entity, and is owned 100% by LLC1. LLC1 and LLC2 each have their own EINs.
LLC1 does not have its own bank account. All operations for LLC2 uses its own EIN and bank accounts under LLC2's name.
What forms do I fill out for taxes? Is it just a Schedule C for the holding company, LLC1, under LLC1's EIN? Or do I need to file a Schedule C under LLC2 as well? Can I combine all expenses and income in one Schedule C for both EINs and both LLCs?
When paying myself, should the draw be included in the accounting for LLC2 since that it where all operations is occurring? Both LLC1 and LLC2 will have separate books.
Thank you.
