Just for clarification, the phrase "disregarded entity" comes straight out of the relevant Federal regulations; it refers to single-member LLCs that did NOT elect to be treated as a C or S corporation. (Multi-member LLCs that do not make such an election are treated as partnerships.) Except for some S corporations (they have more flexibility in paying the owner's Social Security & Medicare taxes), it is generally NOT advantageous for an LLC to elect corporate tax status due to "double taxation" of C corporations.
