Yes, an LLC Can Be Taxed as an S-corp, But Why?

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We are sometimes asked to form a limited liability company for a new North Carolina business that wants to be taxed like an S-corporation. Yes, we can do that, but why?

The primary reason for a company to do this is because it wants the operational and organizational flexibility of the LLC, but it also wants to reduce self-employment taxes. We find this to be an extremely cumbersome method of doing business and accounting.

Please see full article below for more information.

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Published In: Business Organization Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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