Where to file my commission

[1mdaugs]

I own a disregarded multi member llc when it gets paid commission ,I usually pay myself with it. Do I file as income on both my personal and also my business filings? If so will I be taxed two times on the same commission?

[Vanessa A]

A disregarded LLC can only have one member, not multiple members.  So if you are the only person in the LLC, you would not file a business return.  Instead you would only file Schedule C which is part of your overall personal tax return.  

If it is a multimember LLC is it not a disregarded entity, and you would need to file a partnership form 1065.  This will only be an information return, as you do not pay taxes on the income reported on this return.  When filing the 1065, you would then generate a K-1 which you as an individual will use to report on your personal taxes where the income will be taxed. But it will only be taxed once since the LLC is simply a flow through. 

For either scenario, it does not matter how much you "pay yourself" because ALL the profit flows through to the owners and is taxed at the individual level.