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Single member LLC taxes

When and where do I make federal tax payments as a single member LLC?

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KristinaK
Employee Tax Expert

Single member LLC taxes

Unless you've elected to be treated as a corporation, a single-member LLC (SMLLC) reports income and expenses on the member's individual tax return. Usually, Schedule C

 

The net income from the LLC's activity is subject both to income tax (depends on your bracket) and self-employment tax (15.3%). You will need to calculate your estimated net income quarterly and then make estimated tax payments to the IRS and the state Department of Revenue.

 

Here is how you can pay the IRS online. The due dates are April 15, June 15, September 15, and January 15 of the next year. 

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