LLC TO C CORP

[ee-ea]

@Djbrevik17 

File form 2553 with the IRS

https://www.irs.gov/pub/irs-pdf/f2553.pdf

Instructions here

https://www.irs.gov/instructions/i2553#idm139855003812896

[Djbrevik17]

So do I end up filing taxes under the S corp with the company EIN and then also for myself with my social security number for personal taxes on whatever I paid myself?

[Anonymous_]

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@ee-ea wrote:

@Djbrevik17 

File form 2553 with the IRS

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Again, filing Form 2553 with the IRS is fine if the goal is for the LLC to be treated as an S corporation for federal income purposes, but not for any other purpose (e.g., liability).

[Anonymous_]

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@Djbrevik17 wrote:

So do I end up filing taxes under the S corp with the company EIN and then also for myself with my social security number for personal taxes on whatever I paid myself?

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Yes. During the process of preparing the 1120-S for the S corporation, a K-1 will be generated. 

You will then enter the information from the K-1 into your personal income tax return.