Convert LLC to S Corporation VS Filing an Election

Category : S Corporaiton Election
Posted On : 18th Apr 2016

 

1. Your S Corporation will be recognized immediately by the Internal Revenue Service if you file a conversion of your LLC with the state.

 2. Your S Corporation will be recognized following year, if you file an election with the Internal Revenue Service instead of filing a conversion.

3. You will use the same EIN if filed an election to file taxes as an S Corporation of your LLC otherwise you have to apply for a new EIN.

 

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