rjs
Level 15
Level 15

Business & farm

Just to clarify what others have said, for tax purposes your LLC is treated as a partnership. It has to file a partnership tax return. Each member is a partner.


The LLC can elect to be treated as an S corporation for tax purposes instead of as a partnership.


You need professional accounting, tax, and legal advice to get everything set up correctly. In future years you may be able to do the tax returns yourself.